Common use of Early Payout of Accumulated Leave Days Clause in Contracts

Early Payout of Accumulated Leave Days. Teachers who are currently eligible to retire in the MPSERS system may choose to receive an early payout for accumulated paid leave days at full value, $94.84. Teachers who have at least five (5) years of service in the District and who are not currently eligible to retire in the MPSERS system may choose to receive early payout for accumulated paid leave days at half value, per Article X, B. Teachers who have less than five years of service in the District may not receive early payout for accumulated paid leave days. A maximum of 50 days can be returned by one teacher per year. The number of accumulated paid leave days remaining in the teacher’s bank shall be reduced by the number of days returned for early payout. The number of remaining accumulated paid leave days shall not be less than 65. Teachers interested in early payout of accumulated paid leave days should submit the request form to the Payroll Office by March 15 of the school year prior to payout. Payouts are in September of each school year.‌ The District shall be liable for payments of up to 650 total returned days per year. Applications for early payout of accumulated leave days shall be honored in order of seniority in the District.

Early Payout of Accumulated Leave Days. Teachers who are currently eligible to retire in the MPSERS system may choose to receive an early payout for accumulated paid leave days at full value, $94.84. per ARTICLE X – ACCUMULATED LEAVE DAY PAYMENT, A. Teachers who have at least five (5) ten years of service in the District and who are not currently eligible to retire in the MPSERS system may choose to receive early payout for accumulated paid leave days at half value, per Article X, B. A. Teachers who have less than five ten years of service in the District may not receive early payout for accumulated paid leave days. A maximum of 50 days can be returned by one teacher per year. The number of accumulated paid leave days remaining in the teacher’s bank shall be reduced by the number of days returned for early payout. The number of remaining accumulated paid leave days shall not be less than 65. Teachers interested in early payout of accumulated paid leave days should submit the request form to the Payroll Office by March 15 of the school year prior to payout. Payouts are in September of each school year.‌ year. The District shall be liable for payments of up to 650 total returned days per year. Applications for early payout of accumulated leave days shall be honored in order of seniority in the District.

Early Payout of Accumulated Leave Days. Teachers who are currently eligible to retire in the MPSERS system may choose to receive an early payout for accumulated paid leave days at full value, $94.84. Teachers who have at least five (5) years of service in the District and who are not currently eligible to retire in the MPSERS system may choose to receive early payout for accumulated paid leave days at half value, per Article X, B. Teachers who have less than five years of service in the District may not receive early payout for accumulated paid leave days. A maximum of 50 days can be returned by one teacher per year. The number of accumulated paid leave days remaining in the teacher’s bank shall be reduced by the number of days returned for early payout. The number of remaining accumulated paid leave days shall not be less than 65. Teachers interested in early payout of accumulated paid leave days should submit the request form to the Payroll Office by March 15 of the school year prior to payout. Payouts are in September of each school year.‌ year. The District shall be liable for payments of up to 650 total returned days per year. Applications for early payout of accumulated leave days shall be honored in order of seniority in the District.