Cash Out. Upon retirement or death, 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 (4) hours of sick leave. In lieu of a cash payout for sick leave at retirement as provided by this section, an employee will receive the amount of any such payout in the form of a contribution to a medical reimbursement plan if the employee is eligible to participate in such a plan at the time of his or her retirement.
Appears in 16 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Cash Out. Upon retirement or death, an employee or his or her their 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 (4) hours of sick leave. In lieu of a cash payout for sick leave at retirement as provided by this section, an employee will receive the amount of any such payout in the form of a contribution to a medical reimbursement plan if the employee is eligible to participate in such a plan at the time of his or her their retirement.
Appears in 1 contract
Samples: Collective Bargaining Agreement
