Compensation for Unused Sick Days Sample Clauses

Compensation for Unused Sick Days. Teachers retiring under the Michigan Public School Employees Retirement System shall be compensated for unused sick days in the following manner: 0 - 20 days No Compensation 21 - 40 days 10% of daily rate 41 - 70 days 33-1/3% of daily rate 71 - 100 days 40% of daily rate 101+ days 50% of daily rate for days accumulated prior to June 30, 2014; $50 per day for days accumulated on or after July 1, 2014 For all teachers hired after August 24, 1993, the following compensation shall be made for unused sick days upon retirement from the Xxxxxxx Public Schools: 0 - 20 days = no compensation 21 - 100 days = $37.50 x total number of accumulated sick days 101+ = $50.00 x total number of accumulated sick days The total compensation for unused sick days to be paid to the employee upon retirement is required to be paid by the Board on behalf of the eligible participant into a non-elective 403(b) tax deferred annuity. The remittance of this benefit by the Board on behalf of the eligible participant shall be subject to and made in accordance with applicable regulations of the Internal Revenue Service and the Board’s 403 (b) policy. The benefits shall be remitted to one of the district’s 403 (b) providers. Participants shall not have the option of receiving this benefit in any form other than through a non- elective 403 (b) tax deferred annuity as described above.
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Compensation for Unused Sick Days. 1. The maximum accumulation of sick leave days shall be sixty (60) days (480 hours) as specified above. Employees reaching the maximum shall be granted days each year but shall not increase accumulation. Those employees who in the future shall have the maximum accumulation plus unused days above their maximum shall be granted $7.89 for each unused hour above the maximum on June 30.
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Compensation for Unused Sick Days. For administrators who are eligible for retirement, and who provide the Board with written notification of intention to retire with at least 120 days notice, the following formula of compensation shall apply.
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Compensation for Unused Sick Days. (a) Upon retirement for service and age from a State administered retirement system, each teacher who has accumulated at least fifty (50) sick leave days shall be entitled to receive a lump sum retirement payment for earned and unused accumulated sick leave at the rate of $40.00 per day, to a maximum payment of $4,000.00. An employee who elects a deferred retirement benefit shall not be eligible for retirement payment.
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Compensation for Unused Sick Days. For administrators who are eligible for retirement, and who provide the Board with written notification of intention to retire with at least 120 days notice, the following formula of compensation shall apply. a. Accumulated sick leave shall be compensated at the rate of $100.00 per day, within thirty (30) days of the effective date of retirement. b. Effective July 1, 2005 for all new hires, accumulated sick leave, up to a maximum of ninety (90) days, shall be compensated at the rate of $100.00 per day within thirty (30) days of the effective date of retirement. c. The lump sum compensation will be deposited into a 403B or 457B plan, not to exceed IRS limitations at the time the compensation is paid in accordance with Board policy. d. This lump sum compensation shall not be considered as part of contracted salary for retirement purposes.
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Compensation for Unused Sick Days. A. If during each of the entire school terms of this contract, a teacher shall have utilized zero (0) days of sick leave, the teacher shall receive additional compensation in the amount of four hundred dollars ($400.00).
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Compensation for Unused Sick Days. The Board shall pay eligible retiring members under paragraph 1 of this Section for their unused, accumulated sick days at a rate of twenty-five dollars ($25) per day, provided such days are not calculated by the Members’ Retirement System in a member’s service years’ credit, up to a maximum of $4,250. This payment for unused, accumulated sick days is a severance payment to be made to eligible retiring members upon evidence from TRS of any excess days not used for service credit following their retirement and is not intended to be included in the creditable earnings for the members’ final year of employment in the District. Members who submits intent to retire during this contract are eligible for this benefit. Additionally, members who submitted their notice of retirement during the 2019-2024 collective bargaining agreement and who will retire between June 2025 and 2029 are also eligible for this benefit.
Sample 1
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Compensation for Unused Sick Days. The Board shall pay eligible retiring teachers under paragraph 1 of this Section for their unused, accumulated sick days at a rate of ten dollars ($10) per day, provided such days are not calculated by the Teachers’ Retirement System in a teacher’s service years’ credit, up to a maximum of $1,700. This payment for unused, accumulated sick days is a severance payment to be made to eligible retiring teachers upon evidence from TRS of any excess days not used for service credit following their retirement and is not intended to be included in the creditable earnings for the teachers’ final year of employment in the District.
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Related to Compensation for Unused Sick Days

  • Pay for Unused Sick Leave Unused sick leave not to exceed 70 days will be paid at the rate of $50 per day when the teacher retires or leaves U.S.D. 506 employment, provided the teacher has a minimum of 10 years of service in U.S.D. 506. Article VI: Activity Ticket Each teacher of U.S.D. 506 shall be issued an activity ticket, which shall be honored at all regular school functions held within the district. Said ticket shall not be honored at basketball tournaments and special events. Said ticket shall be honored for employee, spouse, and children who have not yet graduated from high school. The Board of Education will have an expectation that those teachers in attendance at school functions will assume a reasonable amount of general supervision as needed.

  • Payment for Unused Sick Leave a. An employee with less than ten (10) years of continuous University service, as defined herein, who separates from the University shall not be paid for any unused sick leave. For employees appointed on or before 1/7/03 University service includes continuous employment by the University or the State of Florida.

  • Compensation for Overtime 9.5.1 All overtime hours, except those overtime hours exceeding twelve (12) hours in one day, shall be compensated at a rate of pay equal to time and one-half the regular rate of pay of the employee. Those overtime hours exceeding twelve (12) in one day shall be compensated at a rate of pay equal to two times the regular pay of the employee.

  • HOLIDAY COMPENSATION FOR TIME WORKED 177. Employees required by their respective appointing officers to work on any of the above designated or observed holidays, excepting Fridays observed as holidays in lieu of holidays falling on Saturday, shall be paid extra compensation of one additional day's pay at time- and-one-half the usual rate (i.e. 12 hours pay for 8 hours worked) or a proportionate amount for less than 8 hours worked. At the employee's request and with the approval of the appointing officer, an employee may be granted compensatory time off in lieu of paid overtime pursuant to the provisions herein. 178. Executive, administrative and professional employees designated in the Annual Salary Ordinance with the "Z" symbol shall not receive extra compensation for holiday work but may be granted time off equivalent to the time worked at the rate of one-and-one-half times for work on the holiday.

  • Unused Sick Leave The accrual of unused sick leave hours is unlimited. The City and the Union commit to the evaluation and establishment of a mutually beneficial non-use of sick leave incentive and pay-out policy. Until such time that a policy is established, accumulated sick leave shall be compensated as follows: Upon retirement from the City service, an employee shall be paid sixty percent (60%) of his accumulated sick leave, with the rate of payment based upon his regular pay at the time he retires. Upon the death of an employee, his beneficiary shall be paid sixty percent (60%) of his accumulated unused sick leave, with the payment based upon his regular pay at the date of his death.

  • Compensation for Holidays Falling Within Vacation Schedule If a paid holiday falls on or is observed during an employee's vacation period, he/she shall be allowed an additional vacation day with pay at a time mutually agreed upon by the Employer and employee.

  • Compensation for Holidays Falling on Scheduled Days Off 1. When a holiday falls on a full-time employee's regularly scheduled day off, the employee shall receive eight (8) hours of compensatory time.

  • Compensation for Delay The time allowed for carrying out the work, as entered in the tender form, shall be strictly observed by the contractor and shall be deemed to be the essence of the contract and shall be reckoned from the fifteenth day after the date on which the order to commence the work is issued to the contractor, for a work where completion is up to 6 months For works, for which the completion period is beyond six months: - The period will be reckoned from the thirtieth day after the date on which the order to commence the work is issued to contractor .The work shall throughout the stipulated period of contract be proceeded with all due diligence, keeping in view that time is the essence of the contract. The contractor shall be bound in all cases, in which the time allowed for any work exceeds one month, to complete 1/8th of the whole work before 1/4th of the whole time allowed under the contract has elapsed, 3/8th of the work before 1/2 of such time has elapsed and 3/4th of the work before 3/4th of such time has elapsed. In the event of the contractor failing to comply with the above conditions, the Commissionor/CMO shall levy on the contractor, as compensation an amount equal to: 0.5% (zero point five percent) of the value of work (contract sum) for each week of delay, provided that the total amount of compensation under this provision of the clause shall be limited to 6% (six percent) of the value of work. (Contract sum) Provided further that if the contractor fails to achieve 30% (thirty percent) progress in half (1/2) of original or validly extended period of time (reference clause 5 below) the contract shall stand terminated after due notice to the contractor and his contract finallised, with xxxxxxx money and or security deposit forfeited and levy of further compensation at the rate of 10% of the balance amount of contract left incomplete, either from the bill, and or from available security/performance guarantee or shall be recovered as "Arrears of land revenue". The decision of the Competent Authority in the matter of grant of extension of time only (reference clause 5 below) shall be final, binding and conclusive. But he has no right to change either the rate of compensation or reduce and or condone the period of delay- once such an order is passed by him (on each extension application of the contractor). It shall not be open for a revision. Where the Commissioner/CMO or Competent Authority or Commissioner/CMO as the case may decides that the contractor is liable to pay compensation for not giving proportionate progress under this clause and the compensation is recommended during the intermediate period, such compensation shall be kept in deposit and shall be refunded if the contractor subsequently makes up the progress for the lost time, within the period of contract including extension granted, if any. failing which the compensation amount shall be forfeited in favour of the Nagar Xxxxx/Nagar Palika Parishad/Nagar Panchayat Clause 3 -:Action when the work is left incomplete abandoned or delayed beyond the time limit permitted by the Commissioner/CMO or Competent Authority: -

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