Conversion to Retirement credit prior to retirement Sample Clauses

Conversion to Retirement credit prior to retirement. An employee who is eligible to purchase retirement service credit under the Public Employees Retirement System (PERS) may convert accrued, unused sick leave into retirement credit prior to retirement under the following conditions only: 1. An employee must maintain a sick leave hour balance of at least 480 hours of accrued unused sick leave to be eligible to convert to PERS credit. 2. An employee can only convert hours in excess of 480 (in increments of 8 hours), and conversion is limited to a maximum annual limit of 280 hours. 3. PERS will convert dollars into service credit. Note: 1 hour of sick leave may not equal 1 hour of service credit. 4. Purchase of service credit under this provision must comply with PERS policies and procedures. 5. To convert sick leave under this provision, employees must submit a written request to the County Manager within the thirty (30) day window for conversion requests. The conversion request window will open on November 1st and close on December 1st. For requests for conversion to be eligible for conversion, all written requests must be received by the County Manager on or before December 1st, requests received after December 1st will not be considered timely and eligible for conversion under this provision. 6. Only sick leave actually accrued by an employee on or before December 1st will be subject to conversion under this provision. 7. If the employee meets all the conditions set forth in this section, then the County will deduct the amount of sick leave designated on the employee’s written request which is eligible for conversion from the employees account and proceed to purchase retirement service credit from PERS. 8. Employees may convert up to a maximum of 980 hours of accrued sick leave during the complete term of their employment with the County. 9. Employees may only convert sick leave to service credit 5 times prior to retirement. 10. Timely and eligible requests for conversion will be processed by the County in accordance with PERS policies and procedures.
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Conversion to Retirement credit prior to retirement. An employee who is eligible to purchase retirement service credit under the Public Employees Retirement System (PERS) may convert accrued, unused sick leave into retirement credit prior to retirement under the following conditions only: 1. An employee must maintain a sick leave hour balance of at least 480 hours of accrued, unused sick leave. 2. An employee can only convert hours in excess of 480 (in increments of 8 hours) 3. Maximum hours allowed to convert is 480. 4. PERS will convert dollars into service credit. Note: 1 hour of sick leave may not equal 1 hour of service credit. 5. Purchases of service credit under this provision must comply with PERS policies and procedures. 6. To convert sick leave under this provision, employees must submit a written request to the County Manager within the ninety (90) day window for conversion requests. The conversion request window will open on September 1st and close on December 1st. For requests for conversion to be eligible for conversion, all written requests must be received by the County Manager on or before December 1st, requests received after December 1st will not be considered timely and eligible for conversion under this provision.
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Conversion to Retirement credit prior to retirement. An employee who is eligible to purchase retirement service credit under the Public Employees Retirement System (PERS) may convert accrued, unused sick leave into retirement credit prior to retirement under the following conditions only: 1. An employee must maintain a sick leave hour balance of at least 480 hours of accrued, unused sick leave. 2. An employee can only convert hours in excess of 480 (in increments of 8 hours) 3. Maximum hours allowed to convert is 480. 4. PERS will convert dollars into service credit. Note: 1 hour of sick leave may not equal 1 hour of service credit. 5. Purchases of service credit under this provision must comply with PERS policies and procedures. 6. To convert sick leave under this provision, employees must submit a written request to the County Manager within the ninety (90) day window for conversion requests. The conversion request window will open on September 1st and close on December 1st. For requests for conversion to be eligible for conversion, all written requests must be received by the County Manager on or before December 1st, requests received after December 1st will not be considered timely and eligible for conversion under this provision. 7. Only sick leave actually accrued by an employee on or before December 1st will be subject to conversion under this provision. 8. If the employee meets all the conditions set forth in this section, then the County will deduct the amount of sick leave hours which are designated on he employee’s written request which is/are eligible for conversion from the employee’s account and proceed to purchase retirement service credit from PERS. 9. May only convert sick leave to PERS service credit four (4) times prior to retirement. 10. In accordance with NRS 286.510, the employee has an effective date of PERS membership before July 1, 2015. Employees with an effective date of PERS membership after June 30, 2015 found by PERS to have a family medical emergency, as defined by XXXX, whose retirement is prompted by a family medical emergency will be eligible to exercise the provisions of this article if all other conditions are met. 11. Timely and eligible request for conversion will be processed by the County in accordance with PERS policies and procedures.
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Conversion to Retirement credit prior to retirement. An employee who is eligible to purchase retirement service credit under the Public Employees Retirement System (PERS) may convert a maximum of 400 (did not get changed on last negotiation to coincide with below changes) hours of accrued, unused sick leave into retirement credit prior to retirement under the following conditions only: 1. Must have at least 400 hours of accrued, unused sick leave. 2. Can only convert hours in excess of 400 (in increments of 8 hours). 3. Maximum hours allowed to convert is 400. 4. Effective January 1, 2016, may only use this option five (5) times during employment
Sample 1
Conversion to Retirement credit prior to retirement. An employee who is elgibleeligible to purchase retirement service credit under the Public Employees Retirement System (PERS) may convert accrued, unused sick leave into retirement credit prior to retirement under the following conditions only: 1. Must have at least 480 hours of accrued, unused sick leave. 2. Can only convert hours in excess of 480 (in increments of 8 hours) 3. Maximum hours allowed to convert is 480. 4. PERS will convert dollars into service credit. Note: 1 hour of sick leave may not equal 1 hour of service credit. 5. Must submit a written request to the County Administrator on or before December 1. 6. If the employee meets all the condition set forth in this section, then the County will deduct the designated amount of sick leave from the employees account and proceed to purchase retirement service credit from PERS. 7. May only convert up to 4 times prior to retirement.
Sample 1
Conversion to Retirement credit prior to retirement. An employee who is eligible to purchase retirement service credit under the Public Employees Retirement System (PERS) may convert a maximum of 400 hours of accrued, unused sick leave into retirement credit prior to retirement under the following conditions only: 1. Must have at least 400 hours of accrued, unused sick leave. 2. Can only convert hours in excess of 400 (in increments of 8 hours). 3. Maximum hours allowed to convert is 400. 4. Effective July 1, 2016, may only use this option five (5) times during employment. Employees who have already exercised this option three times by December 31, 2010 shall be “grandfathered.” 5. PERS will convert dollars into service credit. Note: 1 hour of sick leave may not equal 1 hour of service credit. 6. Must submit a written request to the County Administrator on or before December 1. 7. If the employee meets all the conditions set forth in this section, then the County will deduct the designated amount of sick leave from the employees account and proceed to purchase retirement service credit from PERS.
Sample 1

Related to Conversion to Retirement credit prior to retirement

  • Coverage Selection Prior to Retirement An employee who retires and is eligible to continue insurance coverage as a retiree may change his/her health or dental plan during the sixty (60) calendar day period immediately preceding the date of retirement. The employee may not add dependent coverage during this period. The change takes effect on the first day of the month following the date of retirement.

  • Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement. 24.2 Transition to retirement arrangements may be proposed and, where agreed, implemented as: (a) a flexible working arrangement (see clause 16 (Flexible Working Arrangements)); (b) in writing between the parties; or (c) any combination of the above. 24.3 A transition to retirement arrangement may include but is not limited to: (a) a reduction in their EFT; (b) a job share arrangement; or (c) working in a position at a lower classification or rate of pay. 24.4 The Employer will consider, and not unreasonably refuse, a request by an Employee who wishes to transition to retirement: (a) to use accrued Long Service Leave (LSL) or Annual Leave for the purpose of reducing the number of days worked per week while retaining their previous employment status; or (b) to be appointed to a role which that has a lower hourly rate of pay or hours (post transition role), in which case: (i) the Employer will preserve the accrual of LSL at the time of reduction in salary or hours; and (ii) where LSL is taken or paid out in lieu on termination, the Employee will be paid LSL hours at the applicable classification and grade, and at the preserved hours, prior to the post transition role until the preserved LSL hours are exhausted.

  • Termination of 401(k) Plan Unless otherwise directed in writing by Parent at least five business days prior to the consummation of the Offer, and to the extent permitted by Applicable Law, the Company will terminate any and all Employee Plans intended to qualify as a qualified cash or deferred arrangement under Section 401(k) of the Code, effective as of the day immediately preceding the date the Company becomes a member of the same Controlled Group of Corporations (as defined in Section 414(b) of the Code) as Parent (the “401(k) Termination Date”). The Company shall provide Parent evidence that such resolutions to terminate the 401(k) plan(s) of the Company and its Subsidiaries have been adopted by the Company Board or the board of directors of its Subsidiaries, as applicable. The form and substance of such resolutions shall be subject to the reasonable approval of Parent. The Company shall also take such other actions in furtherance of terminating any such 401(k) plans as Parent may reasonably request. Immediately prior to the 401(k) Termination Date, the Company will make (or cause to be made) all necessary payments to fund the contributions (i) necessary or required to maintain the tax-qualified status of any such 401(k) plan and (ii) for elective deferrals made pursuant to any such 401(k) plan for the period prior to its termination. As promptly as practicable after the 401(k) Termination Date and subject to the terms of Parent’s 401(k) plan, Parent shall permit all employees of the Company and its Subsidiaries who were eligible to participate in any such 401(k) plan immediately prior to the 401(k) Termination Date to participate in Parent’s 401(k) plan, and to the extent permitted by the terms of the applicable plan, shall permit each continuing employee of the Company and its Subsidiaries to elect to roll over his or her account balance from any terminated 401(k) plan maintained by the Company or any of its Subsidiaries, to Parent’s 401(k) plan.

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

  • 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.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Complete Disposal Upon Termination of Service Agreement Upon Termination of the Service Agreement Provider shall dispose or delete all Student Data obtained under the Service Agreement. Prior to disposition of the data, Provider shall notify LEA in writing of its option to transfer data to a separate account, pursuant to Article II, section 3, above. In no event shall Provider dispose of data pursuant to this provision unless and until Provider has received affirmative written confirmation from LEA that data will not be transferred to a separate account.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Public Employees Retirement System “PERS”) Members.

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