Compensation for Unused Sick Leave at Retirement Sample Clauses

Compensation for Unused Sick Leave at Retirement. Each Food Services employee electing retirement will be provided compensation for accumulated sick leave days as follows:
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Compensation for Unused Sick Leave at Retirement. Regularly appointed employees who retire through PERA, will be provided compensation for accumulated sick leave days as follows: a. When the employee has met the requirements for retirement in the District, that employee shall be eligible for compensation for accumulated sick leave. b. A maximum payment of seven thousand, two hundred dollars ($7,200) for 240-day employees, six thousand, six hundred dollars ($6,600) for 220-day employees, and six thousand dollars ($6,000) for 200-day employees will be made by the District for employees who have accumulated one (1) year or more of unused sick leave and who are eligible to retire, or the payment of .0015 times the annual contract salary at retirement times two hundred forty (240), two hundred twenty (220), or two hundred (200), whichever is greater. c. The payment of seven thousand, two hundred dollars ($7,200), six thousand, six hundred dollars ($6,600), or six thousand dollars ($6,000) shall be reduced by 1/240, 1/220, 1/200 for each day less than an accumulation of two hundred forty (240) days, two hundred twenty (220) days, or two hundred (200) days or the payment of .0015 times the annual contract salary at retirement times the accumulated number of sick days less than two hundred forty (240), two hundred twenty (220), or two hundred (200).
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Compensation for Unused Sick Leave at Retirement. Compensation for unused sick leave at retirement will be paid for under the following conditions: 1. After fifteen (15) years of service with Board, a teacher, at retirement, will be compensated for one-fourth of (1/4) the total days of unused sick leave at $115.00 per day. 2. After twenty (20) years of service with the Board, a teacher, at retirement, will be compensated for one-half (1/2) the total days of unused sick leave at $115.00 per day. 3. After twenty five (25) years of service with the Board, a teacher, at retirement will be compensated for three-fourths (3/4) the total days of unused sick leave at $115.00 per day. 4. Effective June 30, 1998, a cap of $20,000.00 will be placed on the total amount of compensation received by an employee for his/her unused sick leave upon retirement. 5. There will be no compensation unless the teacher is on the payroll the contract year the retirement or disability terminates the tenure. Compensation for unused sick leave is not retroactive for previously retired teachers, nor payable after June 30th of the last contract year. 6. Employees may select one of the following options for payment of such compensation: a. Lump sum payment of full amount due at time of retirement, payable within thirty (30) days of retirement date. b. Full payment shall be deferred until January 2nd of the calendar year immediately following the year of retirement. c. Compensation may be divided into two (2) equal payments with the first payment of 50% being given on January 2nd of the year following the year of retirement. 7. Upon the death of an employee who would have been eligible for compensation for unused sick leave on retirement, said monies shall be given to the employee's estate.
Sample 1Sample 2
Compensation for Unused Sick Leave at Retirement. Each employee upon retirement shall be paid for fifty percent (50%) of his or her accumulated sick leave, the rate of compensation to be based on the employee’s salary at the time of retirement. The compensation for the death of an employee not occurring in the line of duty shall be made to the employee’s beneficiary or estate at the rate of fifty percent (50%) of all unused sick leave.
Sample 1
Compensation for Unused Sick Leave at Retirement. Compensation for unused sick leave at retirement will be paid for under the following conditions: 1. If retiring with 0-15 years of service with the Ventnor City Board of Education, no administrator will be eligible to use unused sick leave nor will any compensation be earned. 2. If retiring with 16-20 years of service with the Ventnor City Board of Education, an "Administrator", at retirement, will be compensated for one-fourth (1/4) of the total days of unused sick leave at $110.00 per day, up to a maximum of 40 days. 3. If retiring with 21-25 years of service with the Ventnor City Board of Education, an "Administrator", at retirement, will be compensated for one-half (½) of the total days of unused sick leave at $110.00 per day, up to a maximum of 100 days. 4. If retiring with 26 or more years of service with the Ventnor City Board of Education, an "Administrator", at retirement, will be compensated for three- quarters (3/4) of the total days of unused sick leave at $110.00 per day, up to a maximum of 200 days. 5. There will be no compensation unless the "Administrator" is on the payroll the contract year the retirement or disability terminates the tenure. Compensation for unused sick leave is not retroactive for previously retired "Administrators", nor payable after June 30 of the last contract year. 6. Employees may select one of the following options for payment: a. Lump sum payment of the full amount due at the time of retirement, payable within thirty (30) days of the retirement date. b. Full payment shall be deferred until January 2nd of the calendar year immediately following the year of retirement. c. Compensation may be divided into two (2) equal payments with the first payment of 50% being given at retirement and the second payment being given on January 2nd of the year following the year of retirement. d. Upon the death of an employee who would have been eligible for compensation for unused sick leave on retirement, said monies shall be given to an employee’s estate.
Sample 1
Compensation for Unused Sick Leave at Retirement. ‌ Effective January 1, 1995, each contract employee electing retirement will be provided compensation for accumulated sick leave days as follows:
Sample 1
Compensation for Unused Sick Leave at Retirement. Regularly appointed employees who retire through PERA, will be provided compensation for accumulated sick leave days as follows: a. When the employee has met the requirements for retirement in the District, that employee shall be eligible for compensation for accumulated sick leave. b. The payment shall be calculated by multiplying the annual salary by .0015 times the number of accumulated sick days (annual salary x .0015 x number of accumulated sick days). The payment shall not exceed $14,000.
Sample 1
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Related to Compensation for Unused Sick Leave at Retirement

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • 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 is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

  • 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.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.02(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or the Government Employees Compensation Act prevents her from receiving Employment Insurance or Québec Parental Insurance Plan maternity benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.02(a), other than those specified in sections (A) and (B) of subparagraph 17.02(a)(iii), shall be paid, in respect of each week of maternity allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of her weekly rate of pay and the gross amount of her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.02 for a combined period of no more than the number of weeks during which she would have been eligible for maternity benefits under the Employment Insurance or Québec Parental Insurance Plan had she not been disqualified from Employment Insurance or Québec Parental Insurance maternity benefits for the reasons described in subparagraph (a)(i).

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Sick Leave Credit-Based Retirement Gratuities 1) A Teacher is not eligible to receive a sick leave credit gratuity after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day. 2) If the Teacher is eligible to receive a sick leave credit gratuity, upon the Teacher’s retirement, the gratuity shall be paid out at the lesser of, a) the rate of pay specified by the board’s system of sick leave credit gratuities that applied to the Teacher on August 31, 2012; and b) the Teacher’s salary as of August 31, 2012. 3) If a sick leave credit gratuity is payable upon the death of a Teacher, the gratuity shall be paid out in accordance with subsection (2). 4) For greater clarity, all eligibility requirements must have been met as of August 31, 2012 to be eligible for the aforementioned payment upon retirement, and the Employer and Union agree that any and all wind-up payments to which Teachers without the necessary years of service were entitled to under Ontario Regulation 01/13: Sick Leave Credits and Sick Leave Credit Gratuities, have been paid. 5) For the purposes of the following boards, despite anything in the board’s system of sick leave credit gratuities, it is a condition of eligibility to receive a sick leave credit gratuity that the Teacher have ten (10) years of service with the board: i. Near North District School Board ii. Avon Maitland District School Board iii. Xxxxxxxx-Xxxxxxxxx District School Board

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