Compensation at Retirement. Upon retirement, pursuant to Connecticut General Statutes, Chapter 66, as amended, and all other retirement plans, a Faculty Member shall be compensated at the rate of one-fourth (1/4) of his/her daily salary for each day of sick leave standing to his/her credit as of his/her last day on the active payroll, up to a maximum of an equivalent of sixty (60) days’ pay. Upon the death of an employee who has completed ten years of State service, the Employer shall pay to the employee’s estate one-fourth (1/4/) of the deceased employee’s daily salary for each day of sick leave accrued to his/her credit as of his/her last day on the active payroll, up to a maximum of an equivalent of sixty (60) days’ pay. Compensation for twelve-month employees equals (annual salary/261) times the number of days accrued (to a maximum of 240) times 0.25. Compensation for ten-month employees equals (annual salary/217) times number of days accrued (to a maximum of 240) times 0.25.
Appears in 5 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
