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.
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.
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.
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).
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.
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.
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.
