Accumulated Sick Leave Payment. Upon retiring or leaving the school district, whether on Plan A or Plan B, the school Administrator shall receive a lump sum accumulative sick leave payment equal to twenty percent (20%) of accumulated sick leave, based upon the daily rate of the last contract year. The school Administrator's actual letter of resignation must be received no later than April 1 of the calendar year the school Administrator terminates employment.
Accumulated Sick Leave Payment. Upon retiring or leaving the District, teachers shall receive a lump sum for an accumulated sick leave payment equal to twenty percent (20%) of their accumulated sick leave, based upon the daily rate of last year’s contract, if the teacher meets the following eligibility criteria: The teacher has accrued fifteen (15) years of creditable service with the Belgrade School District and a minimum of twenty-five (25) years of creditable service under the Montana Teacher Retirement System (TRS), or the teacher has accrued at least twenty (20) years of creditable service under TRS with the Belgrade School District. The teacher’s actual letter of resignation must be received no later than April 1st of the calendar year the teacher terminates employment. Window of Opportunity: In order to receive the Plan B Severance Benefit, the teacher must submit a letter of resignation within a “window of opportunity”. The “window of opportunity” shall be no later than the school year that he/she has earned thirty-five (35) years of TRS creditable service. The written resignation must be effective for next contract year. Failure to resign shall result in the loss/waiver of this Plan B Severance Plan. At the discretion of the Board, the Board may approve an extension of the “window of opportunity” for a teacher. The Association has the right to exempt up to ten (11) teachers from the original group of teacher that qualified for Plan B (Old Plan) from the “window of opportunity” eligibility requirement. Acknowledge of Receipt: All notices, letters, and/or applications shall be mailed (postmarked) to the Superintendent’s Office or hand delivered to the Superintendent’s Office. Benefit Limitation: This section of the Agreement constitutes all monetary entitlements available to teachers on retirement or leaving the District that are not required by law. If a teacher elects to apply the amount received under Plan B (Old Plan) of this Section to TRS Option 1 to enhance their retirement benefits, the District shall not be required to pay any additional employer contribution to TRS greater than that required under Plan B (Old Plan) if any additional employer contribution required by Option 1 cannot be charged to the Retirement Fund.
Accumulated Sick Leave Payment. A. Upon retirement, a professional employee with ten (10) or more years of service in the Middletown Area School District shall be reimbursed for unused and accumulated sick leave in the amount of $50 per unused sick day.
B. Compensation for accumulated sick leave shall not exceed $7,000 for the term of this agreement.
C. The District agrees to deposit all lump sum amounts, due the employee upon retirement, into an established and authorized 403(b) tax sheltered account of the employee’s choosing.
Accumulated Sick Leave Payment. Any employee who retires into PERS or is riffed shall be eligible for payment for . unused sick leave under the following circumstances:
1. No employee will be eligible who has less than twenty-five (25) days of accumulated sick leave and ten (10) years of service in the Cinnaminson School District as of the date of retirement.
2. For any employee who has met the terms of 1. the Board will pay for every day through the 20.0th day of accumulated sick leave.
3. Payment shall be made for these days in accordance with the following agreement: 2008-2009 2009-2010 2010-2011
4. If an employee dies while still employed by the Board and that employee has been credited with twenty-five (25) years of service in PERS, the sick leave payment under B. 1., 2. and 3. above shall be made to the employee’s estate.
Accumulated Sick Leave Payment. Any covered employee who retires into TPAF or PERS or is riffed shall be eligible for payment for unused sick leave under the following circumstances:
1. No employee will be eligible who has less than fifty (50) days of accumulated sick leave as of the date of retirement.
2. For any employee who has met the terms of 1. the Board will pay for every day through the 200th day of accumulated sick leave.
(a) Payment shall be made to teachers for these days at the following rate: 2008-2009 2009-2010 2010-2011 $65.01 $68.08 $71.14 Max. $13,002.00 $13,616.00 $14,228.00
(b) Payment shall be made to secretaries and aides for these days at the following rate: $39.73 $41.61 $43.48 Max. $7,946.00 $8,322.00 $8,696.00
4. If an employee dies while still employed by the Board and that employee has been credited with twenty-five (25) years of service in either TPAF or PERS, the sick leave payment under B.1., 2. and 3. above shall be made to the employee's estate.
5. Payment of this benefit shall be made in either three equal payments or five equal payments, at the discretion of the employee. If the employee retires December 31 of the contract years and selects the three payment option, the first thirty-three and one third percent (33 1/3%) of the total amount due shall be paid on or about July 15 of the year following retirement; thirty-three and one third percent (33 1/3%) of the total amount shall be paid on or before July 15 of the year following the first payment; and, thirty-three and one third percent (33 1/3%) of the total amount shall be paid on or before July 15 of the year following the second payment. If the employee selects the five payment option, twenty percent (20%) of the total amount due shall be paid on or about July 15 of the year following retirement; and, twenty percent (20%) of the total amount due shall be paid on or before July 15 of each successive year following the first payment until the employee is paid one hundred percent (100%) of the amount. If the employee retires June 30 of the contract years and selects the three payment option, thirty-three and one third percent (33 1/3%) of the total amount due shall be paid no later than ninety (90) days from the effective date of retirement, at such time subject to discretion of the board of Education; thirty-three and one third percent (33 1/3%) of the total amount due shall be paid on or before July 15 of the year following the first payment; and, thirty-three and one third percent (33 1/3%) of the t...
Accumulated Sick Leave Payment. Any covered employee who retires into TPAF or PERS or is riffed shall be eligible for payment for unused sick leave under the following circumstances:
1. No employee will be eligible who has less than fifty (50) days of accumulated sick leave as of the date of retirement.
2. For any employee who has met the terms of 1. the Board will pay for every day through the 200th day of accumulated sick leave. $56.27 $59.08 $61.94 Max $11,254.00 $11,816.00 $12,388.00
(a) Payment shall be made to teachers for these days at the following rate: 2005-2006 2006-2007 2007-2008
(b) Payment shall be made to secretaries and aides for these days at the following rate: 2005-2006 2006-2007 2007-2008 $34.38 $36.10 $37.85 Max $6,876.00 $7,220.00 $7,570.00
Accumulated Sick Leave Payment. Payment of this benefit shall be made in either three equal payments or five equal payments, at the discretion of the employee. If the employee retires December 31 of the contract years and selects the three payment option, the first thirty-three and one third percent (33 1/3 %) of the total amount due shall be paid on or about July 15 of the year following retirement; thirty-three and one third percent (33 1/3 %) of the total amount due shall be paid on or before July 15 of the year following the first payment; and thirty-three and one third percent (33 1/3 %) of the total amount shall be paid on or before July 15 of the year following the second payment. If the employee selects the five payment option, twenty percent (20%) of the total amount due shall be paid on or about July 15 of the year following retirement; and twenty percent (20%) of the total amount due shall be paid on or before July 15 of each successive year following the first payment until the employee is paid one hundred percent (100%) of the amount. If the employee
Accumulated Sick Leave Payment. A. All employees covered by this Agreement shall be entitled, upon retirement, to receive a lump sum payment as supplemental compensation for each full day of earned and unused accumulated sick leave which is credited to him/her on the effective date of his/her retirement.
B. Employees must retire from service with at least twenty (20) years of continuous service and leave employment in good standing after giving proper notice to be eligible for such payment.
C. The supplemental compensation payment to be paid hereunder shall be computed at the rate of one-half (1/2) of the employee’s daily base rate of pay for each day of earned and unused accumulated sick leave based upon the average annual base rate compensation received during the last year of his/her employment, prior to the effective date of his/her retirement, provided however that no such lump sum payment shall exceed $12,000.00.
D. Retirement is agreed to mean leaving employment of the Phillipsburg Free Public Library to receive a library pension under the Public Employee’s Retirement System.
Accumulated Sick Leave Payment. A. All employees covered by this Agreement shall be entitled, upon retirement, to receive a lump sum payment as supplemental compensation for each full day of earned and unused accumulated sick leave which is credited to him/her on the effective date of his/her retirement.
B. 2007 - The supplemental compensation payment to be paid hereunder shall be computed at the rate of one-half (1/2) of the employee’s daily base rate of pay for each day of earned and unused accumulated sick leave based upon the average annual base rate compensation received during the last year of his/her employment, prior to the effective date of his/her retirement, provided however that no such lump sum payment shall exceed $12,000.00.
C. 2008 – At the time of retirement, all employees covered by this agreement shall receive payment for fifty-five (55%) percent of unused sick leave.
D. 2009 – At the time of retirement, all employees covered by this agreement shall receive payment for fifty-five (55%) percent of unused sick leave plus $200.00
Accumulated Sick Leave Payment. Upon retiring or leaving the District, teachers shall receive a lump sum for an accumulated sick leave payment equal to twenty percent (20%) of their accumulated sick leave, based upon the daily rate of last year’s contract, if the teacher meets the following eligibility criteria:
a. The teacher has accrued fifteen (15) years of creditable service with the Belgrade School District and a minimum of twenty-five (25) years of creditable service under the Montana Teacher Retirement System (TRS), or the teacher has accrued at least twenty (20) years of creditable service under TRS with the Belgrade School District.
b. The teacher’s actual letter of resignation must be received no later than April 1st of the calendar year the teacher terminates employment. The written resignation must be effective for next contract year. Failure to resign shall result in the loss/waiver of this Plan B Severance Plan. At the discretion of the Board, the Board may approve an extension of the “window of opportunity” for a teacher. The Association has the right to exempt up to ten (10) teachers from the original group of teachers that qualified for Plan B (Old Plan) from the “window of opportunity” eligibility requirement.
