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.
Appears in 6 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
