Common use of Conversion at Retirement Clause in Contracts

Conversion at Retirement. Employees retiring from the City under a State regulated 26 retirement system shall receive payment for accrued but unused sick leave on the basis of one (1) 27 day for each four (4) days of accrued not to exceed sixty (60), eight (8) hour days or four hundred 28 eighty (480) hours. Payment for sick leave under this provision shall be considered to eliminate all 29 sick leave accrued by the employee, and such payment will be made only once to any employee.

Conversion at Retirement. Employees retiring from the City and retire under a State regulated 26 retirement system 25 Public Employees Retirement System shall receive payment for accrued but unused sick leave on 26 the basis of one (1) 27 day day’s (8 hours) pay for each four (4) days (32 hours) of accrued sick leave, 27 not to exceed sixty (60), eight (8) hour days or four hundred 28 and eighty (480) hourshours of pay. Payment for sick leave Conversion under this provision shall be considered to eliminate 28 eliminates all 29 sick leave accrued by from the employee, and such payment will be made only once to any employee’s balance.

Conversion at Retirement. Employees retiring from the City under a State regulated 26 18 retirement system shall receive payment for accrued but unused sick leave on the basis of one (1) 27 19 day for each four (4) days of accrued not to exceed sixty (60), eight (8) hour days or four hundred 28 20 eighty (480) hours. Payment for sick leave under this provision shall be considered to eliminate 21 all 29 sick leave accrued by the employee, and such payment will be made only once to any 22 employee.