Conversion of Sick Leave Upon Retirement Sample Clauses

Conversion of Sick Leave Upon Retirement. Upon retirement, members of the University of California Retirement Plan shall have their accumulated sick leave converted to retirement service credit at the rate authorized by the University of California Retirement Plan for each day of unused accrued sick leave.
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Conversion of Sick Leave Upon Retirement. Upon retirement under the Public Employee's Retirement System, an employee's accumulated sick leave will be credited to the Public Employee's Retirement benefits as provided and in accordance with Oregon Revised Statute 237.153 relating to such conversion and as administered by the Public Employee's Retirement System.
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Conversion of Sick Leave Upon Retirement. 1. Upon retiring from active service with the University after ten (10) or more years of service, an employee may elect to be paid for one fourth (1/4) of the accrued but unused sick leave credit. This payment will be based upon the employee's rate of pay at the time of retirement. Upon accepting such payment, all sick leave credit accrued up to that time will be eliminated. 2. Such payment will be made only once to any employee. That is, an employee who returns to the University or other state service after retiring may accrue and use sick leave as before, but may not convert the unused sick leave at the time of the second retirement. 3. The maximum payment allowed will be one fourth (1/4) of one hundred twenty days (120). Sick leave conversion does not apply to any termination or separation other than retirement.
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Conversion of Sick Leave Upon Retirement. A unit employee retiring from the City may opt to convert up to one hundred percent (100%) of unused accumulated sick leave, which has not been paid out, to service credit in accordance with CalPERS regulations, procedures, and limits (G.C. 20965).
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Conversion of Sick Leave Upon Retirement. To the extent provided by PERS regulations, any unused sick leave upon retirement may be converted to years of service for PERS purposes.
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Conversion of Sick Leave Upon Retirement. Employees who have made application to receive their CalPERS retirement pension shall continue to be eligible to apply their accrued sick leave balance upon retirement toward service credit in accordance with the City’s contract with CalPERS.
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Conversion of Sick Leave Upon Retirement. In order to receive reimbursement for unused sick leave at the time of separation from the school district due to retirement, the building administrator must have separated from such employment and have been granted a retirement allowance under the laws governing the teachers’ retirement system. The maximum number of days that may be converted for a building administrator shall be one hundred eighty (180) days, consistent with school board policy and state statue. The compensation will be at the rate of 25% of the employee’s current contract pay, i.e., 1/223 per authorized day, for each full day of eligible sick leave. The payroll office will verify an individual’s eligibility for sick leave conversion to VEBA (Voluntary Employee Benefit Association) III at the time of retirement. VEBA III is a plan whereby a staff member may choose to receive post- retirement medical benefits in lieu of compensation for sick leave cash out.
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Related to Conversion of Sick Leave Upon Retirement

  • Sick Leave Conversion Sick leave accumulation in excess of 1,440 hours may be converted to paid vacation time at a ratio of two (2) hours of sick leave time for one (1) hour of vacation time, to a maximum of five (5) regularly-assigned workdays (not to exceed a total of forty (40) hours in any year. There shall be no conversion of unused sick leave in any amount at any time to any cash payment other than the above-described conversion to vacation time or severance pay in Article 13.

  • Accumulation of Sick Leave The unused portion of an Employee's sick leave shall accrue for her future benefit, up to a maximum of one hundred and thirty (130) days.

  • 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.

  • Exercise Period Upon Death or Disability If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (e) below, this option shall be exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date.

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Extension of Sick Leave Unless an employee otherwise requests in writing, an employee who has used up her sick leave credits shall be granted advanced sick leave with pay for a period up to fifteen (15) days subject to the deduction of such advanced leave from any sick leave credits subsequently earned.

  • Retirement or Disability If you retire under the terms of any qualified pension plan provided by the Company or one of its subsidiaries, or if you are totally and permanently disabled, the Option may be exercised as to the total number of shares subject to the Option (without regard to the exercise schedule set forth in paragraph 4) at any time within one year after the date of retirement or disability retirement, but not after the Expiration Date.

  • Donation of Sick Leave 8.10.1 On a case-by case basis and with mutual agreement between the Association and the District, any bargaining unit member may donate five (5) days (40 hours) of accumulated sick leave to another bargaining unit member who has suffered a long- term, non-industrial related illness or injury and who will exhaust all fully paid leaves. The employee suffering from such illness or designee must request, in writing, donations of sick leave from bargaining unit members only, through the Personnel Office. Requests shall be made prior to the exhaustion of all fully paid leave. Donation of sick leave will not be retroactive. 8.10.2 The Personnel Office will send out the notification of the request for donations of sick leave. The request will be sent for posting on all CUEA bulletin boards and the CUEA President notified of the request. All donations of sick leave will be voluntary with no personal solicitation of donors allowed. The names of any bargaining unit members donating sick leave under this provision will not be made public. 8.10.3 Only bargaining unit members who have a minimum of fifteen (15) days (120 hours) of accumulated sick leave remaining after donating five (5) days (40 hours) of sick leave under this provision will be permitted to participate in this program. Employees eligible to donate sick leave will do so on a District approved form and must submit that form to the Personnel Office. 8.10.4 The maximum amount of sick leave that may be donated to any one person requesting donations under this provision will be equivalent to sixty (60) days. 8.10.5 Donated sick leave will be utilized for the specified employee in the following manner: (A) donated sick leave will be assigned a usage number. The first donated sick leave received by the Personnel Office will be the first sick leave used by the beneficiary. As sick leave is used by the unit member requesting it, the leave time will be charge against the unit member donating the sick leave. (B) if the employee returns to work prior to using all donated days, unused sick leave will be returned to the bargaining unit member donating the sick leave. 8.10.6 Up to an additional twenty (20) days (160 hours) of donated time may be requested in writing to the Assistant Superintendent, Personnel Services by the affected member or his/her immediate family. In this case, Section 8.10.5 procedures will be put into effect. 8.10.7 When all paid leaves of absence have been exhausted, and the unit member is unable to return to work, in lieu of resigning the unit member may elect to do one of the following: take a personal leave without pay pursuant to Section 8.5 or Article VIII for not to exceed the remainder of the school year in which the leave occurs, or retire if eligible pursuant to the provisions of the State retirement system.

  • Termination Due to Retirement Subject to Section 7 below, in the event of Termination due to Retirement, then (regardless of any subsequent death of the Employee) the Option will continue to vest pursuant to Section 3, and the last date on which the Option may be exercised is the day prior to the Expiration Date.

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