FORMER ELT EMPLOYEES Sample Clauses

FORMER ELT EMPLOYEES. The District shall pay employees hired prior to July 1, 2010 the equivalent of fifty percent (50%) of unused accrued sick leave for employees who have been employed in the District at least ten (10) years, or fifty-five percent (55%) for employees who have been employed in the District fifteen (15) or more years. The amount shall be based on the daily rate of pay as of June 30, 2010 and shall not exceed the number of unused, accrued hours as of that date. Employees may elect to have all or part of the severance payment placed into their account with the State of Minnesota Deferred Compensation Plan or the District sponsored Tax Sheltered Annuity (TSA) Plan consistent with the requirements of the plan. The balance, if any, will be paid directly to employees. Employees, not the District, are solely responsible for determining the maximum allowable annual contribution amount to deferred compensation/TSA. To the extent permitted by Federal law and Treasury regulations or other similar guidance, accrued bona fide sick will be paid within two and one-half (2½) months of Participant’s severance from employment so long as the employee would have been able to use the leave if employment had continued. Any balance remaining after application of the above calculations shall be paid out as a lump sum payment.
AutoNDA by SimpleDocs
FORMER ELT EMPLOYEES. The District shall pay employees hired prior to July 1, 2010 the equivalent of fifty percent (50%) of unused accrued sick leave for employees who have been employed in the District at least ten (10) years, or fifty-five percent (55%) for employees who have been employed in the District fifteen (15) or more years. The amount shall be based on the daily rate of pay as of June 30, 2010 and shall not exceed the number of unused, accrued hours as of that date.

Related to FORMER ELT EMPLOYEES

  • Former Employees All Employees terminating service with the Employer during the Plan Year and who have satisfied the eligibility requirements based on the terms of the Employer's accumulated benefits plans checked below (select all that apply; leave blank if no exclusions):

  • Shift Employees Employees who work rotating shift patterns or those who work qualifying shifts shall be entitled, on completion of 12 months employment on shift work, to up to an additional 5 days annual leave, based on the number of qualifying shifts worked. The entitlement will be calculated on the annual leave anniversary date. Qualifying shifts are defined as a shift which involves at least 2 hours work performed outside the hours of 8.00am to 5.00pm, excluding overtime. Number of qualifying shifts per annum Number of days additional leave per annum 121 or more 5 days 96 – 120 4 days 71 – 95 3 days 46 – 70 2 days 21 – 45 1 day

  • Current Employees Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ % of Compensation or $_________ of Compensation. Employees and Participants shall have the right to amend the stated automatic Elective Deferral percentage or receive cash in lieu of deferral into the Plan.

  • DNR Employees An employee of the Department of Natural Resources may meet the basic eligibility requirement for participation in the Group Insurance Program based on a combination of seasonal and temporary project employment. Eligibility commences after completion of three (3) years of continuous service in which the basic eligibility requirements are met; continues until the employee completes a year in which the basic eligibility requirements are not met; and commences again after the employee meets or is anticipated to meet the basic eligibility requirements in one (1) year.

  • Student Employees A student employee is an employee who is hired for short-term work which is not ongoing. He/she is normally in the process of completing his/her post-graduate studies and is expected to return to his/her studies after an agreed employment period. The employee's benefits and working conditions are as per Article 34 (Temporary Employees).

  • Newly Hired Employees All employees hired to an insurance eligible position must make their benefit elections by their initial effective date of coverage as defined in this Article, Section 5C. Insurance eligible employees will automatically be enrolled in basic life coverage. If employees eligible for a full Employer Contribution do not choose a health plan administrator and a primary care clinic by their initial effective date, and do not waive medical coverage, they will be enrolled in a Benefit Level Two clinic (or Level One, if available) that meets established access standards in the health plan with the largest number of Benefit Level One and Two clinics in the county of the employee’s residence at the beginning of the insurance year. If an employee does not choose a health plan administrator and primary care clinic by their initial effective date, but was previously covered as a dependent immediately prior to their initial effective date, they will be defaulted to the plan administrator and primary care clinic in which they were previously enrolled.

  • Exempt Employees (1) Except as may otherwise be provided by specific terms of this Agreement, C.G.S. Section 5-245(b)(1) shall be deemed to exempt from overtime payment all employees being paid above Salary Grade 24, and those unclassified positions which on June 30, 1977 were deemed exempt positions. Subject to the operating needs of the agency:

  • Rehired Employees Amounts forfeited upon termination of employment because of the failure to meet the applicable vesting requirements shall not be reinstated or re-credited if an individual is subsequently rehired or re-employed by the School Corporation. However, if the Board shall have approved a leave of absence of not more than one (1) fiscal year for an employee, such period of leave shall not result in forfeiture provided the employee shall promptly return to employment following the expiration of the period of the leave.

Time is Money Join Law Insider Premium to draft better contracts faster.