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.
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Samples: Memorandum of Understanding, Memorandum of Understanding
Annual Sick Leave Buy-Back. a. Subject to the following conditions, the The District shall compensate any requesting employee for accrued sick leave:
1. i. 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 567 hours for all shift personnel, and at least 741 hours for all day shift personnelan employee, with measurement made as of each June 30 and notification to the employee no later than July 15.
2ii. The employee employee, at his/her sole option, must notify the District no not later than October 31 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.
3iii. An employee who has satisfied the requirements identified above may request to be compensated once per year, in aggregate, aggregate up to fifty percent (50%) of the hours accrued in the previous year (July 1 - 1–June 30) at one hundred percent (100%) of the employee’s base monthly compensation, inclusive of all incentives, compensation rate on November 30.
4iv. Any hours used in the previous year (July 1 - June 30) shall reduce the number of hours which the employee may relinquish.
5. v. Relinquishment shall be at the employee’s sole option.
6vi. If an employee elects to sell any hours, all remaining hours from form the year’s years’ 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.
7vii. 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 Understandingleave.
Appears in 2 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding
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 15September 30.
2. The employee at his/her sole option, must notify the District no later than October 31 November 15 of their election to be compensated, including the total number of hours the employee wishes to sell. The notice shall be on a form letter provided by the District. Failure to submit a form by the request through the District’s ESS System 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.. ARTICLE 20: (RESERVED)
Appears in 1 contract
Samples: Memorandum of Understanding
Annual Sick Leave Buy-Back. a. Subject to the following conditions, the The District shall compensate any requesting employee for accrued sick leave:
1. i. 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 567 hours for all shift personnel, and at least 741 hours for all day shift personnelan employee, with measurement made as of each June 30 and notification to the employee no later than July 15September 30.
2ii. The employee employee, at his/her sole option, must notify the District no not later than October 31 November 15, of their election to be compensated, including the total number of hours the employee wishes to sell. The notice shall be on a form letter provided by the District. Failure to submit a form the request through the District’s ESS System by the deadline constitutes waiver of the right to sell sick leave hours for the calendar year.
3iii. An employee who has satisfied the requirements identified above may request to be compensated once per year, in aggregate, aggregate up to fifty percent (50%) of the hours accrued in the previous year (July 1 - 1–June 30) at one hundred percent (100%) of the employee’s base monthly compensation, inclusive of all incentives, compensation rate on November 30.
4iv. Any hours used in the previous year (July 1 - June 30) shall reduce the number of hours which the employee may relinquish.
5. v. Relinquishment shall be at the employee’s sole option.
6vi. If an employee elects to sell any hours, all remaining hours from form the year’s years’ 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.
7vii. 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 Understandingleave.
Appears in 1 contract
Samples: Memorandum of Understanding