ACCRUED UNUSED SICK LEAVE UPON RETIREMENT. Certified personnel, upon making application with the State Retirement System, with twenty (20) or more consecutive years of service within the Tahlequah District, shall be given a bonus for accrued unused sick leave days at a rate of $25.00 per day. The daily rate will be reduced 10% for each year until reaching the ten (10) to fifteen (15) years of service level and the seven (7) to nine (9) years of service level. In no case shall the number of unused sick days be greater than 120 days. The district shall not purchase unused sick leave days which have been accrued in another district and transferred to the Tahlequah District. No payment for unused sick leave days will be made except at the retirement date of the employee, beginning with the 1983-84 school year. (Example) The following schedule is based upon an individual who has acquired 120 unused sick leave days and who is retiring with the various years of consecutive service within the Tahlequah I-35 School District. Years of Service Maximum Sick Leave Days Rate Per Day Percent of $25. Rate Max. Total Unused Days 20+ 120 $25.00 100% $3,000.00 19 120 22.50 90% 2,700.01 18 120 20.00 80% 2,400.00 17 120 17.50 70% 2,100.00 16 120 15.00 60% 1,800.00 10-15 120 12.50 50% 1,500.00 07-09 120 10.00 40% 1,200.00 C. RETIREMENT CONTRIBUTION Retirement benefits of seven per cent (7%) up to thirty thousand dollars ($30,000.00) of gross salary paid to Teacher Retirement System. Teachers with fifteen (15) or more years of service shall receive retirement benefits of 7% of total compensation paid to the Teacher Retirement System. (July 2012)
Appears in 6 contracts
Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement
