Death/Retirement Sick Leave Pay Out Sample Clauses

Death/Retirement Sick Leave Pay Out. Upon the death or retirement of any employee, any unused sick leave shall be paid to the estate of the employee or directly to the employee, whichever is applicable, at the rate of thirty-five dollars ($35.00) per day for the first hundred (100) full days of accrued but unused sick leave (days 1-100), eighty-five dollars ($85.00) per day for the next hundred (100) full days of accrued but unused sick leave (days 101-200), one hundred ten dollars ($110.00) per day for the third hundred (100) full days of accrued but unused sick leave (days 201-300), and ($120.00) per day for the fourth hundred (100) full days of accrued but unused sick leave (days 301-400). Effective July 1, 2019, the new daily pay out rates are as follows: Days 1 – 100: $45.00 per day Days 101 – 200: $90.00 per day Days 201 – 300: $115.00 per day Days 301 – 400: $125.00 per day Also effective July 1, 2019, Part-time employees who are not eligible for a superannuation retirement under the provisions of the Cambridge Retirement System will be eligible for the sick leave buy back benefit described above provided that they state their intent to cease working on a regular basis and have attained the age of fifty-five (55) with a minimum of ten (10) years of continuous service with the City of Cambridge, OR in the alternative, shall have at least twenty (20) years of continuous service with the City of Cambridge with no minimum age requirement.
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Related to Death/Retirement Sick Leave Pay Out

  • 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.

  • 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.

  • Pre-Retirement Leave An employee scheduled to retire and to receive a superannuation allowance under the applicable Superannuation Act(s), or who has reached the mandatory retiring age, shall be entitled to:

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • Vacation Pay on Retirement Termination is as follows:

  • Sick Leave Credit-Based Retirement Gratuities 1) A Teacher is not eligible to receive a sick leave credit gratuity after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who:

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

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