Common use of - ACCUMULATED SICK LEAVE PAYOUT Clause in Contracts

- ACCUMULATED SICK LEAVE PAYOUT. Section 1 Employees who actually retire under the Michigan Public School Employees Retirement Act, or have become totally disabled, and who have spent a minimum of ten (10) years of full-time service in the Marquette Area Public Schools, will be entitled to pay for accumulated Paid Sick Leave as provided in this Article ("Accumulated Sick Leave Payout"). The terms "totally disabled" and "retired" shall be defined as stated in the State of Michigan General School Laws and used by the Michigan Public School Employees Retirement Board but, to be eligible for Accumulated Sick Leave Payout, the employee must not only have retired but actually receive retirement benefits within four (4) months after the teacher has retired from the School District. A. Accumulated Sick Leave Payout shall be computed as follows: One hundred percent (100%) of the unused accumulated sick days up to a maximum of two hundred (200) days as follows: $54.00 for each day from 0 to 100 $67.50 for each day from 101 to 150 $81.00 for each day from 151 to 200 B. The Accumulated Sick Leave Payout will be made in three payments, each equal to one- third of the total Accumulated Sick Leave Payout, over a period of three years. The first payment will be made in January of the first year following retirement (or disability), with the remaining two payments made in January of each of the following two years. Section 3 Sick Leave accrued prior to July 1, 1997 will be paid out according to the attached Agreement titled: “Article XIII – (Terminal Leave Pay for Sick Leave Accrued Prior to July 1, 1997)” with Attachment A (Terminal Sick Leave Payout Plan Application / Retirement) and Attachment B (Terminal Sick Leave Payout Plan Agreement and Waiver / Release of Claims).

- ACCUMULATED SICK LEAVE PAYOUT. Section 1 Employees who actually retire under the Michigan Public School Employees Retirement Act, or have become totally disabled, and who have spent a minimum of ten (10) years of full-time service in the Marquette Area Public Schools, will be entitled to pay for accumulated Paid Sick Leave as provided in this Article ("Accumulated Sick Leave Payout"). The terms "totally disabled" and "retired" shall be defined as stated in the State of Michigan General School Laws and used by the Michigan Public School Employees Retirement Board but, to be eligible for Accumulated Sick Leave Payout, the employee must not only have retired but actually receive retirement benefits within four (4) months after the teacher has retired from the School District. A. Accumulated Sick Leave Payout shall be computed as follows: One hundred percent (100%) of the unused accumulated sick days up to a maximum of two hundred (200) days as follows: $54.00 for each day from 0 to 100 $67.50 for each day from 101 to 150 $81.00 for each day from 151 to 200 B. The Accumulated Sick Leave Payout will be made in three payments, each equal to one- one-third of the total Accumulated Sick Leave Payout, over a period of three years. The first payment will be made in January of the first year following retirement (or disability), with the remaining two payments made in January of each of the following two years. Section 3 Sick Leave accrued prior to July 1, 1997 will be paid out according to the attached Agreement titled: “Article XIII – (Terminal Leave Pay for Sick Leave Accrued Prior to July 1, 1997)” with Attachment A (Terminal Sick Leave Payout Plan Application / Retirement) and Attachment B (Terminal Sick Leave Payout Plan Agreement and Waiver / Release of Claims).

- ACCUMULATED SICK LEAVE PAYOUT. Section 1 Employees who actually retire under the Michigan Public School Employees Retirement Act, or have become totally disabled, and who have spent a minimum of ten (10) years of full-time service in the Marquette Area Public Schools, will be entitled to pay for accumulated Paid Sick Leave as provided in this Article ("Accumulated Sick Leave Payout"). The terms "totally disabled" and "retired" shall be defined as stated in the State of Michigan General School Laws and used by the Michigan Public School Employees Retirement Board but, to be eligible for Accumulated Sick Leave Payout, the employee must not only have retired but actually receive retirement benefits within four (4) months after the teacher has retired from the School District. A. Accumulated Sick Leave Payout shall be computed as follows: One hundred percent (100%) of the unused accumulated sick days up to a maximum of two hundred (200) days as follows: $54.00 for each day from 0 to 100 $67.50 for each day from 101 to 150 $81.00 for each day from 151 to 200 B. The Accumulated Sick Leave Payout will be made in three payments, each equal to one- third of the total Accumulated Sick Leave Payout, over a period of three years. The first payment will be made in January of the first year following retirement (or disability), with the remaining two payments made in January of each of the following two years. Section 3 Sick Leave accrued prior to July 1, 1997 will be paid out according to the attached Agreement titled: “Article XIII – (Terminal Leave Pay for Sick Leave Accrued Prior to July 1, 1997)” with Attachment A (Terminal Sick Leave Payout Plan Application / Retirement) and Attachment B (Terminal Sick Leave Payout Plan Agreement and Waiver / Release of Claims).