Common use of EMPLOYEE FUNDED LEAVE PLAN Clause in Contracts

EMPLOYEE FUNDED LEAVE PLAN. An employee Self-Funded Leave Plan is established permitting a one (1) year leave of absence through deferral of salary to finance the leave. Any permanent employee with the Board is eligible to participate in the plan (see Policy No. 3A:4 for application procedures). S over Y plus 1 (S/Y + 1) where: "S" equals the annual salary plus responsibility allowances if applicable; "Y" equals the number of years in the plan; and

EMPLOYEE FUNDED LEAVE PLAN. An employee Self-Funded Leave Plan is established permitting a one (1) year leave of absence through deferral of salary to finance the leave. Any permanent employee with the Board is eligible to participate in the plan (see Policy No. 3A:4 for application procedures). S over Y plus 1 (S/Y + 1) where: "S" equals the annual salary plus responsibility allowances if applicable; "Y" equals the number of years in the plan; and;