Exchange of Sick Leave Upon Retirement Sample Clauses

Exchange of Sick Leave Upon Retirement. An employee who is eligible to retire from the Town of Normal Police Department with at least twenty (20) years of service on the Department shall be eligible to exchange a portion of such employee’s accumulated and unused sick leave calculated at the time the employee enters into a retirement agreement with the Town at the exchange rates listed below. Exchange Rate for Exchange rate for Accumulated Sick Leave employees hired before 11-1-08 employees hired after 11-1-08 And those employees hired prior To 11-1-08 who opt in to plan per Sec. 14.8 960 hours to 840 hours 50% of hours in cash 60% of hours converted 839 hours to 720 hours 30% of hours in cash 50% of hours converted 719 hours to 550 hours 20% of hours in cash 40% of hours converted 549 hours or less 0% of hours in cash 0% of hours converted For employees hired after November 1, 2008 and those employees hired prior to November 1, 2008 who opt in to the plan per Sec. 14.8, the value of the exchanged sick leave shall be deposited into the employee’s ICMA-RC Retirement Health Savings Account (RHS). Those employees with less than 550 hours of accumulated and unused sick leave as of the date their retirement agreement will not be eligible for any exchange for their accumulated and unused sick leave time. Any employee electing to exchange sick leave shall enter into a retirement agreement with the Town. Such retirement agreement shall include the following:
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Related to Exchange of Sick Leave Upon Retirement

  • 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.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • 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.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Donation of Sick Leave The District shall allow unit members to donate sick leave to individual employees who have suffered long-term disabilities or illnesses. Donating unit members shall retain a thirty (30) day balance of sick leave after their donation and may donate no more than twenty-five (25) days of sick leave per year. The donation form is Appendix I. Part-time faculty may receive sick leave donations from any employee, and may donate accumulated sick leave to other part-time faculty following the same requirements as outlined above. Part-time faculty may not donate sick leave to full- time employees.

  • Utilization of Sick Leave with Pay Temporary employees who have earned sick leave credits in their temporary appointment shall be eligible for sick leave for any period of absence from employment due to any of the following reasons: • illness; • bodily injury; • disability resulting from pregnancy; • necessity for medical or dental care; • if the employee is a victim of domestic violence, harassment, sexual assault, or stalking; or the parent or guardian of a minor child or dependent who is a victim of domestic violence, harassment, sexual assault or stalking, pursuant to ORS 659A.270 through 659A.290; • attendance at an employee assistance program; • exposure to contagious disease; • for the emergency repair of personal assistive devices which are medically necessary for the employee to perform assigned duties; • attendance upon members of the employee’s or the employee’s spouse’s immediate family, or the equivalent of each for domestic partners, (parent, wife, husband, children, brother, sister, grandmother, grandfather, grandchild, or another member of the immediate household) where the employee’s presence is required because of illness or death; • parental leave. The employee has the duty to insure that they make other arrangements, within a reasonable period of time, for the attendance upon children or other persons in the employee’s care. Certification of an attending physician or practitioner may be required by the Agency to support the employee’s claim for sick leave if the employee is absent in excess of seven (7) days, or if the Agency has evidence that the employee is abusing sick leave privileges. The Agency may also require such certificate from an employee to determine whether the employee should be allowed to return to work where the Agency has reason to believe that the employee’s return to work would be a health hazard to either the employee or to others. (See Section 4 for FMLA and OFLA.)

  • Vacation Pay on Retirement Termination is as follows:

  • Expiration of Sick Leave If illness or disability continues beyond the time covered by earned sick leave, the employee may be granted a disability leave or a personal leave in accordance with this Agreement.

  • Notification of Sick Leave Days The Board shall notify employees and the Bargaining Unit, when they have exhausted their 11 days allocation of sick leave at 100% of salary.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

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