Cash Out Upon Retirement Sample Clauses

Cash Out Upon Retirement. Employees will be permitted to cash-out any unused sick leave at the rate of twenty-two and a half percent (22.5%) to a maximum of ten (10) days.
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Cash Out Upon Retirement. All employees who are eligible for a service retirement under state guidelines for the LEOFF Retirement System shall be eligible to cash out 33% of their accrued sick leave, up to 1040 hours, at their regular hourly rate of pay in effect at the time their employment ends, up to a maximum of $15,000 in 2022. The maximum cash out amount shall be increased annually by an amount that reflects 100% of the percentage increase in the Seattle/Tacoma CPI- W (semi-annual index released in July. This section shall further include separations due to death or disability retirement of the employee.
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Cash Out Upon Retirement. Upon retirement, eligible employees may opt to cash-out up to sixty percent (60%) of sick leave accumulated in Bank A in accordance with Section 7.1.
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Cash Out Upon Retirement. Upon retirement, the employee may opt to cash-out remaining frozen sick leave hours in Bank B in accordance with Sections 7.4(2)(b) and (c).
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Cash Out Upon Retirement. Employees shall be entitled to cash-out their unused leave accrual upon retirement at twenty-five (25%) percent of their total accumulated accrual.
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Cash Out Upon Retirement. Upon retirement, an employee or his or her estate will receive cash at the employee’s straight-time hourly rate for all sick leave hours. Sick leave will be cashed out at a rate of one (1) hour’s pay for each four
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Related to Cash Out Upon Retirement

  • 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.

  • 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.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Payment Upon Death When an employee dies, any and all accrued, unused vacation leave to his/her credit shall be paid to the surviving spouse. In the event that the employee has no surviving spouse, said unused vacation leave shall be paid to the employee's estate. Such payment shall be paid at the employee's hourly rate of pay at time of death in a lump sum (less applicable withholding), less any amounts owed by the employee to the City.

  • Vacation Pay on Retirement Termination is as follows:

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

  • Vacation Credits Upon Death Earned but unused vacation entitlement shall be made payable, upon termination due to death, to the employee's dependent, or where there is no dependent, to the employee's estate.

  • Vacation Pay Upon Termination When an employee in the bargaining unit is terminated for any reason, he/she shall be entitled to all vacation pay earned and accumulated up to and including the effective date of the termination.

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