Common use of - Accrued Sick Leave Retirement Plan Clause in Contracts

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they shall be deemed to have retired because of disability at the time of death, and payment for their accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (100%) of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) a. Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) b. When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) c. The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. d. The amount payable under this Section shall be paid in a lump sum following separation from employment but not more than sixty (d60) days after the date of the employee's separation. e. One-hundred percent (100%) of the amount payable under this Section shall be deposited into the Health Care Savings Account Plan (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) f. If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (Effective November 29, 2005 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their Minneapolis his or her Employer group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (Effective April 5, 2004 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half one‑half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (Effective April 14, 2003 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article Article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (Effective March 15, 2005 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (100%) of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent The amount payable under this Section shall be paid in a lump sum following separation from employment but not more than sixty (60) days after the date of the employee's separation. (e) Effective January 1, 2003 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account Plan (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (ef) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article Article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (Effective April 14, 2003 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and iixx. as xx of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) a. When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) b. The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (100%) of the c. The amount payable under this Section shall be deposited into the Health Care Savings Account paid in a lump sum following separation from employment but not more than sixty (MSRS). This deposit shall occur within thirty (3060) days of after the date of retirementthe employee's separation. (e) d. If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their Minneapolis his or her Employer group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire separate from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired separated former employees who: i. have separated from service; and ii. as of the date of retirement separation had accrued sick leave credit of no less than sixty (60) days; and and iii. as of the date of retirement separation had: 1. no less than twenty (20) years of qualified service as computed for retirement separation purposes, or 2. who have reached sixty years of age, or 3. who are required to retire separate early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirementseparation, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (Effective April 14, 2003 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) A. Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement had accrued sick leave credit of no less than sixty (60) days; and iii. as of the date of retirement had: 1. no less than twenty (20) years of qualified service as computed for retirement purposes, or 2. who have reached sixty years of age, or 3. who are required to retire early because of either disability or having reached mandatory retirement age. (b) B. When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirement, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) C. The amount payable to each employee qualified hereunder shall be one-one half (½1/2) the daily rate of pay for the position held by the employee on the day of retirement, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. D. The amount payable under this Section shall be paid in a lump sum following separation from employment but not more than sixty (d60) One-hundred percent (days after the date of the employee’s separation. E. Effective January 1, 2003 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirement. (e) F. If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's ’s estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire separate from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired former employees who: i. have separated from service; and ii. as of the date of retirement separation had accrued sick leave credit of no less than sixty (60) days; and and iii. as of the date of retirement separation had: 1. no less than twenty (20) years of qualified service as computed for retirement pension eligibility purposes, or 2. who have reached sixty years of age, or 3. who are required to retire separate early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirementseparation, they he/she shall be deemed to have retired separated because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirementseparation, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (Effective April 18, 2003 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirementseparation. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.

- Accrued Sick Leave Retirement Plan. Employees who retire separate from positions in the qualified service and who meet the requirements set forth in this article shall be paid in the manner and amount set forth herein. (a) Payment for accrued but unused sick leave shall be made only to retired separated former employees who: i. have separated from service; and ii. as of the date of retirement separation had accrued sick leave credit of no less than sixty (60) days; and and iii. as of the date of retirement separation had: 1. no less than twenty (20) years of qualified service as computed for retirement separation purposes, or 2. who have reached sixty years of age, or 3. who are required to retire separate early because of either disability or having reached mandatory retirement age. (b) When an employee having no less than sixty (60) days of accrued sick leave dies prior to retirementseparation, they he/she shall be deemed to have retired because of disability at the time of death, and payment for their his/her accrued sick leave shall be paid to the designated beneficiary as provided in this Section. (c) The amount payable to each employee qualified hereunder shall be one-half (½) the daily rate of pay for the position held by the employee on the day of retirementseparation, notwithstanding subsequent retroactive pay increases, for each day of accrued sick leave subject to a minimum of sixty (60) days. (d) One-hundred percent (Effective April 5, 2004 and thereafter, 100%) % of the amount payable under this Section shall be deposited into the Health Care Savings Account (MSRS). This deposit shall occur within thirty (30) days of the date of retirementseparation. (e) If an employee entitled to payment under this Section dies prior to receiving the full amount of such benefit, the payment shall be made to the beneficiary entitled to the proceeds of their his or her Minneapolis group life insurance policy or to the employee's estate if no beneficiary is listed.