Annual Buy-Back Option. On or about December 1 of each calendar year, the City will calculate the employee's accrued and unused sick leave over the prior twelve (12) months. At the employee's option, the employee may exchange up to twenty (20%) percent of such hours for either pay or deposit in his section 125 plan commencing the following January 1. Payment shall be made no later than December 15. No employee shall receive more than $600 under this provision.
Annual Buy-Back Option. On or about December 1 of each calendar year, the City will calculate the employee's accrued and unused sick leave over the prior twelve (12) months. At the employee's option, the employee may exchange up to twenty (20%) percent of such hours for either pay, deposit in his/her Section 125 plan, or into his/her 457 deferred compensation plan (commencing the following January 1). Payment shall be made no later than January 1. Notwithstanding Section 8.2 above, accrued hours that are used for a personal day shall not be deducted from an employee’s eligible bank under this section.
A. For an employee with less than twenty (20) years of employment with the City, upon termination of employment from the City's service, all sick leave shall be canceled. Remuneration for unused sick leave during any year and/or at termination with the City of Bettendorf will not be allowed.
B. For an employee with at least twenty (20) years of employment with the City, upon termination of employment from the City’s service, such employee shall receive a payout in an amount equal to 27.69% of the employee’s sick bank (which equates to 288 hours of sick time if at maximum sick bank) at the time of separation.
C. Xxxx leave shall not accrue when on leave without pay. If any employee is laid off from his position for reasons that are not related to the employee's performance and if re-appointed within twelve (12) months, he/she may have available for his/her necessary use, any unused sick leave existing at the time of his/her lay off.
