Calculation of Severance Pay. An eligible employee shall receive as severance pay upon her/his retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days up to 480 hours, times her/his hourly rate of pay at the time of retirement, disability or death, times the percentage determined by the employee’s years of service on her/his last day of employment. 10 full years of service 40% 15 full years of service 50% 20+ full years of service 60%
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Samples: Licensed Practical Nurses Agreement, Bus Driver Agreement, Paraprofessional Agreement
Calculation of Severance Pay. An eligible employee shall receive as severance pay upon her/his retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days up to 480 hours60 days, times her/his hourly daily rate of pay at the time of retirement, disability or death, times the percentage determined by the employee’s 's years of service on her/his last day of employment. 10 full years of service 40% 15 full years of service 50% 20+ full years of service 60%
Appears in 3 contracts
Samples: Sign Language Interpreter Labor Agreement, Sign Language Interpreter Labor Agreement, Sign Language Interpreter Labor Agreement
Calculation of Severance Pay. An eligible employee shall receive as severance pay upon her/his retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days up to 480 hours60 days, times her/his hourly daily rate of pay at the time of retirement, disability or death, times the percentage determined by the employee’s years of service on her/his last day of employment. 10 full years of service 40% 15 full years of service 50% 20+ full years of service 60%
Appears in 3 contracts
Samples: Nutritional Services Agreement, Clerical Agreement, Nutritional Services Agreement
Calculation of Severance Pay. An eligible employee shall receive as severance pay upon her/his retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days up to 480 hours60 days, times her/his hourly daily rate of pay at the time of retirement, disability or death, times the percentage determined by the employee’s years of service on her/his last day of employment. 10 full years of service 40% 15 full years of service 50% 20+ full years of service 60%of
Appears in 2 contracts
