Accumulated Sick Leave Upon Retirement Sample Clauses

Accumulated Sick Leave Upon Retirement. 1. Any permanent employee employed by the Board of Education for a minimum of fifteen (15) years immediately preceding retirement shall be granted a retirement or terminal payment according to the following:
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Accumulated Sick Leave Upon Retirement. Upon retirement from the Xxxxxxxx Park School District, a teacher shall be paid on account of accumulated sick leave, a sum equal to the number of accumulated sick days in said teacher's account, to a maximum of one hundred (100) days multiplied by the sum of $70.00. All other unit members upon retirement shall receive the same above mentioned benefit at the rate of $35.00. Payment on account of this provision shall be made at retirement providing the employee has been engaged by the Xxxxxxxx Park District for a period of fifteen (15) consecutive years or is eligible for pension benefits under the pension laws then in effect, whichever is earlier. In the event of death of covered employees while in the employ of the Board, accumulated sick pay will be paid to that employee's estate.
Sample 1
Accumulated Sick Leave Upon Retirement. Upon retirement from the Xxxxxxxx Park School District, a teacher shall be paid on account of accumulated sick leave, a sum equal to the number of accumulated sick days in said teacher's account, to a maximum of one hundred (100) days multiplied by the sum of $70.00 for 2004-2005, and $75 for 2005-2006 and 2006-2007. All other unit members upon retirement shall receive the same above mentioned benefit at the rate of $40.00. Payment on account of this provision shall be made at retirement providing the employee has been engaged by the Xxxxxxxx Park District for a period of fifteen (15) consecutive years or is eligible for pension benefits under the pension laws then in effect, whichever is earlier. In the event of death of covered employees while in the employ of the Board, accumulated sick pay will be paid to that employee's estate.
Sample 1

Related to Accumulated Sick Leave Upon Retirement

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • Retirement Date If the Executive remains in the continuous employ of the Bank, the Executive shall retire from active employment with the Bank on the Executive’s sixty-fifth (65th) birthday, unless by action of the Board of Directors this period of active employment shall be shortened or extended.

  • Vacation Pay on Retirement Termination is as follows:

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Sick Leave Benefit There are two types of sick leave benefits. Annual sick leave is the sick leave days credited each year to each employee in accordance with the provisions of the local collective bargaining agreements. Banked sick leave is previously accumulated unused sick leave to which unused annual sick leave may be added at the end of each anniversary year.

  • Accrued Sick Leave The Board shall provide all employees with a cumulative record 23 of accrued sick leave hours on each pay statement.

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