Common use of Conversion of Accumulated Sick Leave Clause in Contracts

Conversion of Accumulated Sick Leave. Employees qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert sick leave to an unfunded City account for the purpose of paying for medical coverage under the City's group health insurance plan on a monthly basis. Effective upon ratification, the following conversion rates will apply: The employee’s sick leave conversion account shall be assigned a present value as of the date of retirement equal to the number of hours of accumulated sick leave multiplied by the employee's base hourly rate multiplied by the conversion rate, at the time of retirement. The City will account for a retiree's accumulated sick leave and xxxxx said account on a dollar-for-dollar basis. The City will pay the retiree's health coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if retiree has made arrangements to pay for the City coverage directly. A surviving spouse will continue to receive group health insurance under this benefit so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the spouse has made arrangements to pay for the City coverage directly.

Conversion of Accumulated Sick Leave. Employees qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert a percentage of the employee's accumulated sick leave to an unfunded City account for the purpose of paying for medical coverage group health insurance under the City's group health insurance plan on a monthly basisplan. Effective upon ratification, the following The schedule of conversion rates will applyis as follows: The employee’s sick leave conversion account shall be assigned a present value as of based on the date of retirement equal to the number of hours of accumulated sick leave multiplied by times the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a the retiree's accumulated sick leave and xxxxx said account on a dollar-for-dollar basis. The City will pay the retiree's group health coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the retiree has made arrangements to pay continue group health coverage at their own expense. When a retired employee becomes eligible for Medicare coverage or other federal programs, the City retiree is eligible to receive Medicare supplemental coverage directlythrough the City’s group health plan so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. A surviving spouse will shall continue to receive group health insurance medical coverage under this benefit so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse as described. Should an employee transfer into this contract from another unit or resolution within the City, or if the spouse has made arrangements to pay for employee will retain the City coverage directlyconversion benefit earned under the previous contract.

Conversion of Accumulated Sick Leave. Employees retiring and qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert the following percentages of the employee's accumulated sick leave balance to an unfunded City city account for the purpose of paying for medical coverage under the City's group health insurance plan on a monthly basis. Effective upon ratification, the following conversion rates will apply: The employee’s sick leave conversion account shall be is assigned a present value as of the date of retirement equal to the number of hours of accumulated sick leave multiplied by the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a retiree's accumulated sick leave and xxxxx debit said account on a dollar-for-dollar basis. The City will pay the retiree's group health coverage so long as there is a balance of accumulated sick leave adequate conversion funds. The fund to cover which the monthly premiumaccumulated sick leave balance is credited does not accrue interest and does not have cash value. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage from the City’s group health insurance plan so long as there is a balance of accumulated sick leave adequate to cover the monthly premiumconversion funds, or if the retiree has made arrangements agrees to pay for the City coverage directlycosts themselves. A surviving spouse will continue to receive group health insurance under this benefit coverage as set forth in Section 3, Article A so long as there is a balance of accumulated sick leave adequate to cover the monthly premiumconversion funds, or if the coverage is paid for by the surviving spouse. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse has made arrangements to pay for the City coverage directlyas described above.

Conversion of Accumulated Sick Leave. Employees retiring and qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert a percentage of the employee's accumulated sick leave to an unfunded City account for the purpose of paying for medical coverage under group health insurance the City's group health insurance plan on a monthly basisplan. Effective upon ratification, the following The schedule of conversion rates will applyis as follows: The employee’s sick leave conversion account shall be assigned a present value as of based on the date of retirement equal to the number of hours of accumulated sick leave multiplied by times the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a the retiree's accumulated sick leave and xxxxx said account on a dollar-for-dollar basis. The City will pay the retiree's group health coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the retiree has made arrangements to pay continue group health coverage at their own expense. When a retired employee becomes eligible for Medicare coverage or other federal programs, the City retiree is eligible to receive Medicare supplemental coverage directlythrough the City’s group health plan so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. A surviving spouse will shall continue to receive group health insurance medical coverage under this benefit so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse as described. Should an employee transfer into this contract from another unit or resolution within the City, or if the spouse has made arrangements to pay for employee will retain the City coverage directlyconversion benefit earned under the previous contract.

Conversion of Accumulated Sick Leave. Employees qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert sick leave to an unfunded City account for the purpose of paying for medical coverage under the City's group health insurance plan on a monthly basis. Effective upon ratification, the following conversion rates will apply: The employee’s sick leave conversion account shall be assigned a present value as of the date of retirement equal to the number of hours of accumulated sick leave multiplied by the employee's base hourly rate multiplied by the conversion rate, at the time of retirement. The City will account for a retiree's accumulated sick leave and xxxxx debit said account on a dollar-for-dollar basis. The City will pay the retiree's health coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if retiree has made arrangements to pay for the City coverage directly. A surviving spouse will continue to receive group health insurance under this benefit so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the spouse has made arrangements to pay for the City coverage directly.

Conversion of Accumulated Sick Leave. Employees retiring and qualifying for retirement under Nevada PERS with a minimum of twenty fifteen (2015) years of total service with the City of Sparks may elect to convert a percentage of the employee's accumulated sick leave to an unfunded City account for the purpose of paying for medical coverage under group health insurance the City's group health insurance plan on a monthly basisplan. Effective upon ratification, the following The schedule of conversion rates will applyis as follows: The employee’s sick leave conversion account shall be assigned a present value as of based on the date of retirement equal to the number of hours of accumulated sick leave multiplied by times the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a the retiree's accumulated sick leave and xxxxx debit said account on a dollar-for-dollar basis. The City will pay the retiree's group health coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the retiree has made arrangements to pay continue group health coverage at their own expense. When a retired employee becomes eligible for Medicare coverage or other federal programs, the City retiree is eligible to receive Medicare supplemental coverage directlythrough the City’s group health plan so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. A surviving spouse will shall continue to receive group health insurance medical coverage under this benefit so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse as described. Should an employee transfer into this contract from another unit or resolution within the City, or if the spouse has made arrangements to pay for employee will retain the City coverage directlyconversion benefit earned under the previous contract.

Conversion of Accumulated Sick Leave. Employees retiring and qualifying for retirement under Nevada PERS with a minimum of twenty (20) years or more of total service with the City of Sparks may elect to convert the following percentages of the employee's accumulated sick leave balance to an unfunded City city account for the purpose of paying for medical coverage health benefits under the City's ’s group health insurance plan plan, or other subsidy on a monthly basis. Effective upon ratification, the following conversion rates will apply: The employee’s sick leave conversion account shall would be assigned a present value as of the date of retirement equal to the number of hours of accumulated sick leave multiplied by the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a retiree's accumulated sick leave and xxxxx debit said account on a dollar-for-dollar basis. The City will pay the retiree's health medical coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the retiree has made arrangements agrees to pay for the City coverage directlycosts themselves. A surviving spouse will continue to receive group health insurance medical coverage under this benefit so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the coverage is paid for by the surviving spouse. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse has made arrangements as described above. The fund to pay which the accumulated sick leave is credited does not accrue interest and does not have cash value. The City pays for the retiree's medical coverage by debiting the monthly cost of such coverage out of the appropriate City coverage directlyfund.

Conversion of Accumulated Sick Leave. Employees qualifying for retirement under Nevada PERS with a minimum of twenty fifteen (2015) years of total service with the City of Sparks may elect to convert a percentage of the employee's accumulated sick leave to an unfunded City account for the purpose of paying for medical coverage group health insurance under the City's group health insurance plan on a monthly basisplan. Effective upon ratification, the following The schedule of conversion rates will applyis as follows: The employee’s sick leave conversion account shall be assigned a present value as of based on the date of retirement equal to the number of hours of accumulated sick leave multiplied by times the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a the retiree's accumulated sick leave and xxxxx debit said account on a dollar-for-dollar basis. The City will pay the retiree's group health coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the retiree has made arrangements to pay continue group health coverage at their own expense. When a retired employee becomes eligible for Medicare coverage or other federal programs, the City retiree is eligible to receive Medicare supplemental coverage directlythrough the City’s group health plan so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. A surviving spouse will shall continue to receive group health insurance medical coverage under this benefit so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse as described. Should an employee transfer into this contract from another unit or resolution within the City, or if the spouse has made arrangements to pay for employee will retain the City coverage directlyconversion benefit earned under the previous contract.

Conversion of Accumulated Sick Leave. Employees retiring and qualifying for retirement under Nevada PERS with a minimum of twenty fifteen (2015) years of total service with the City of Sparks may elect to convert the following percentages of the employee's accumulated sick leave balance to an unfunded City city account for the purpose of paying for medical coverage under the City's group health insurance plan on a monthly basis. Effective upon ratification, the following conversion rates will apply: The employee’s sick leave conversion account shall be is assigned a present value as of the date of retirement equal to the number of hours of accumulated sick leave multiplied by the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a retiree's accumulated sick leave and xxxxx debit said account on a dollar-for-dollar basis. The City will pay the retiree's group health coverage so long as there is a balance of accumulated sick leave adequate conversion funds. The fund to cover which the monthly premiumaccumulated sick leave balance is credited does not accrue interest and does not have cash value. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage from the City’s group health insurance plan so long as there is a balance of accumulated sick leave adequate to cover the monthly premiumconversion funds, or if the retiree has made arrangements agrees to pay for the City coverage directlycosts themselves. A surviving spouse will continue to receive group health insurance under this benefit coverage as set forth in Section 3, Article A so long as there is a balance of accumulated sick leave adequate to cover the monthly premiumconversion funds, or if the coverage is paid for by the surviving spouse. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse has made arrangements to pay for the City coverage directlyas described above.

Conversion of Accumulated Sick Leave. Employees retiring and qualifying for retirement under Nevada PERS with a minimum of twenty (20) years or more of total service with the City of Sparks may elect to convert the following percentages of the employee's accumulated sick leave balance to an unfunded City city account for the purpose of paying for medical coverage health benefits under the City's ’s group health insurance plan plan, or other subsidy on a monthly basis. Effective upon ratification, the following conversion rates will apply: The employee’s sick leave conversion account shall would be assigned a present value as of the date of retirement equal to the number of hours of accumulated sick leave multiplied by the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a retiree's accumulated sick leave and xxxxx said account on a dollar-for-dollar basis. The City will pay the retiree's health medical coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the retiree has made arrangements agrees to pay for the City coverage directlycosts themselves. A surviving spouse will continue to receive group health insurance medical coverage under this benefit so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the coverage is paid for by the surviving spouse. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse has made arrangements as described above. The fund to pay which the accumulated sick leave is credited does not accrue interest and does not have cash value. The City pays for the retiree's medical coverage by debiting the monthly cost of such coverage out of the appropriate City coverage directlyfund.

Conversion of Accumulated Sick Leave. Employees qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert a percentage of the employee's accumulated sick leave to an unfunded City account for the purpose of paying for medical coverage group health insurance under the City's group health insurance plan on a monthly basisplan. Effective upon ratification, the following The schedule of conversion rates will applyis as follows: The employee’s sick leave conversion account shall be assigned a present value as of based on the date of retirement equal to the number of hours of accumulated sick leave multiplied by times the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a the retiree's accumulated sick leave and xxxxx debit said account on a dollar-for-dollar basis. The City will pay the retiree's group health coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage so long as there is a balance of accumulated sick leave adequate to cover the monthly premium, or if the retiree has made arrangements to pay continue group health coverage at their own expense. When a retired employee becomes eligible for Medicare coverage or other federal programs, the City retiree is eligible to receive Medicare supplemental coverage directlythrough the City’s group health plan so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. A surviving spouse will shall continue to receive group health insurance medical coverage under this benefit so long as there is a balance of accumulated sick leave adequate to cover the monthly premium. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse as described. Should an employee transfer into this contract from another unit or resolution within the City, or if the spouse has made arrangements to pay for employee will retain the City coverage directlyconversion benefit earned under the previous contract.

Conversion of Accumulated Sick Leave. Employees retiring and qualifying for retirement under Nevada PERS with a minimum of twenty fifteen (2015) years of total service with the City of Sparks may elect to convert the following percentages of the employee's accumulated sick leave balance to an unfunded City city account for the purpose of paying for medical coverage under the City's group health insurance plan on a monthly basis. Effective upon ratification, the following conversion rates will apply: The employee’s sick leave conversion account shall be is assigned a present value as of the date of retirement equal to the number of hours of accumulated sick leave multiplied by the employee's base hourly rate multiplied by the conversion rate, percentage at the time of retirement. The City will account for a retiree's accumulated sick leave and xxxxx said account on a dollar-for-dollar basis. The City will pay the retiree's group health coverage so long as there is a balance of accumulated sick leave adequate conversion funds. The fund to cover which the monthly premiumaccumulated sick leave balance is credited does not accrue interest and does not have cash value. When a retired employee becomes eligible for Medicare coverage or other federal programs, the retiree will receive Medicare supplemental coverage from the City’s group health insurance plan so long as there is a balance of accumulated sick leave adequate to cover the monthly premiumconversion funds, or if the retiree has made arrangements agrees to pay for the City coverage directlycosts themselves. A surviving spouse will continue to receive group health insurance under this benefit coverage as set forth in Section 3, Article A so long as there is a balance of accumulated sick leave adequate to cover the monthly premiumconversion funds, or if the coverage is paid for by the surviving spouse. This benefit is nontransferable and does not survive the retiree except as to a surviving spouse has made arrangements to pay for the City coverage directlyas described above.