Annual Sick Leave Buy-Back Sample Clauses

Annual Sick Leave Buy-Back. Subject to the following conditions, the District shall compensate any requesting employee for accrued sick leave: 1. First, no employee shall be eligible to receive compensation for accrued sick leave unless they have “banked” the required number of hours in their “A” bank. The “A” Bank must contain at least 1000 hours for all shift personnel, and at least 741 hours for all day shift personnel, with measurement made as of each June 30 and notification to the employee no later than July 15. 2. The employee at his/her sole option, must notify the District no later than October 31 of their election to be compensated, including the total number of hours the employee wishes to sell. The notice shall be on a form provided by the District. Failure to submit a form by the deadline constitutes waiver of the right to sell sick leave hours for the calendar year. 3. An employee who has satisfied the requirements identified above may request to be compensated once per year, in aggregate, up to fifty percent (50%) of the hours accrued in the previous year (July 1 - June 30) at one hundred percent (100%) of the employee’s base monthly compensation, inclusive of all incentives, on November 30. 4. Any hours used in the previous year (July 1 - June 30) shall reduce the number of hours which the employee may relinquish. 5. Relinquishment shall be at the employee’s sole option. 6. If an employee elects to sell any hours, all remaining hours from the year’s accrual are placed in the employee’s “B” Bank. Such hours may only be used either in the event of a catastrophic illness after exhaustion of the employee’s “A” Bank and/or for additional service credit at retirement. 7. If an employee elects to sell no hours, all remaining hours shall be placed in the employee’s “A” Bank. Such hours may be used for normal sick leave and may also be sold at retirement pursuant to Article 18 of this Memorandum of Understanding.
AutoNDA by SimpleDocs
Annual Sick Leave Buy-Back. A. The District agrees to implement an Attendance Incentive Plan authorizing buy-back of unused sick leave under Washington State Law. B. Annually in January, the District shall provide notice to eligible employees that up to twelve
Annual Sick Leave Buy-Back. The attendance incentive plan of the district shall be administered under the requirements of RCW 28.400.210. Annually in January, the District shall provide notice to eligible employees that up to 12 days per year may be cashed in annually as allowed by state law by completing and returning the notice by February 10, or the entire accumulation cashed in at death or retirement.
Annual Sick Leave Buy-Back. Subject to the following conditions, the District shall compensate any requesting employee for accrued sick leave at their “total hourly compensation”: A. First, no employee shall be eligible to receive compensation for accrued sick leave unless they have "banked" the required number of hours in their "A" Bank. The "A" Bank must contain at least 1000 hours for all shift personnel and at least 741 hours for all day shift personnel, with measurement made as of each June 30 and notification to the employee no later than July 15.. B. The employee, at their sole option, must notify the District not later than October 31 of their election to be compensated, including the total number of hours the employee wishes to sell. The notice shall be on a form provided by the District. Failure to submit a form by the deadline constitutes waiver of the right to sell sick leave hours for the calendar year. C. Second, an employee who has satisfied the requirements identified above may request to be compensated once per year, in aggregate, up to fifty percent (50%) of the hours accrued in the previous year (July 1 - June 30) at one hundred percent (100%) of the employee’s base monthly compensation, inclusive of all incentives, on November 30. D. Any hours used in the previous year (July 1 - June 30) shall reduce the number of hours which the employee may relinquish. E. Relinquishment shall be at the employee's sole option.
Annual Sick Leave Buy-Back. (a) The Village, on an annual basis, will pay an officer the current straight time hourly rate or equivalent in whole day increments for unused sick time up to four (4) days per year. To be eligible the officer must have used four (4) or less sick days during that calendar year. (b) If an officer elects to exercise this “Annual Sick Leave Buy Backoption only the remaining unused sick days after buy back from that year will accrue towards the officer’s buy back upon retirement. The specific procedures for documenting sick leave usage and making application for Annual Sick Leave Buy Back payments shall be in accordance with such orders issued from time to time by the Chief of Police.
Annual Sick Leave Buy-Back. In January of the year following any year in which a minimum of sixty (60) days of leave for illness or injury is accrued and each January thereafter, any eligible principal may exercise an option to receive remuneration for unused leave for illness or injury accumulated in the previous year at a rate equal to one day’s monetary compensation of the principal for each four
Annual Sick Leave Buy-Back. Effective January 1, 2001 and payable after December 31, 2001 amend as follows: The Village, on an annual basis, will pay an employee the current straight time rate hourly rate or equivalent in whole day increments for unused sick time as follows:
AutoNDA by SimpleDocs
Annual Sick Leave Buy-Back. Effective January 1, and payable after December 31:
Annual Sick Leave Buy-Back a. Subject to the following conditions, The District shall compensate any requesting employee for accrued sick leave: i. The “A” Bank must contain 567 hours for an employee. ii. Measurement is made on each June 30, with notification no later than July 15. iii. The employee, at his/her sole option, must notify the District not later than October 31, of their election to be compensated. The notice shall be in writing. iv. Compensation shall typically occur not later than December 15. b. An employee who has at least the hours set on Paragraph 1 above may request compensation as follows: i. Up to fifty percent (50%) of the hours accrued in the previous year (July 1–June 30) may be relinquished to the District at one hundred percent (100%) of the employee’s base monthly compensation rate on December 1. ii. Any hours used in the previous year (July 1 - June 30) shall reduce the number of hours which the employee may relinquish. iii. Relinquishment shall be at the employee’s sole option.
Annual Sick Leave Buy-Back. (a) Effective January 1, 1993, an Officer may buy back up to 15 days of his/her yearly accrual (excluding perfect attendance bonus) at seventy- five percent (75%) of its value. He/She shall apply in writing between January 1 and January 15 of the succeeding year. Payment shall be made by February 15. (b) Effective March 1, 2003, an Officer may buy back up to 120 hours of his/her yearly accrual (excluding perfect attendance bonus) at seventy- five percent (75%) of its value. He/She shall apply in writing between October 1 and October 15 of that year. Payment shall be made by December 1st at the current year’s rate. (c) If an employee retires prior to being paid his or her sick leave buy-back (this is for sick days accrued, earned and notification as to buy-back not even given), then the employee shall be paid the sick leave buy-back after the employee retires pursuant to the payment schedule set forth in this paragraph 14.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!