Conversion of Hours to Deferred Compensation Plan. Educational Support Professionals who meet the eligibility requirements may participate in the Career Transition Trust by converting the allowable number of accrued sick leave hours at 100% of their hourly rate of pay, into payments to the State of Minnesota Deferred Compensation Plan. The Career Transition Trust Plan is an employer contribution which allows for such conversion until the employee reaches the maximum capped deposit for the tier of benefits. The number of hours, which may be converted, is based on the accrued sick leave hours on January 1st of the year the conversion will be made.
Appears in 10 contracts
Samples: Memorandum of Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
