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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Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Compensation for Unused Sick Leave at Retirement. Regularly appointed employees 15.1 Compensation for Unused Sick Leave at Retirement Effective January 1, 1995, each contract employee who retire through PERA, retires 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 240-240- 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).
Appears in 1 contract
Samples: Collective Bargaining Agreement
