Leave Buy-Out. Leave Buy-Out provisions are contained in Sections R and S of Article VI. In the case of death, reimbursement for unused general leave days will be paid to the estate of the deceased teacher. The rate of reimbursement will be the same as that paid to teachers upon retirement.
Leave Buy-Out. A. All employees who retire shall be entitled to receive a lump sum payment as supplemental compensation, which sum shall be computed at the rate of one-half (1/2) of the employee’s daily rate of pay for each full day of earned and unused accumulated sick leave on the last day of employment, but not to exceed $12,000.00. Payment shall be calculated at the rate of pay being received on the date of retirement.
Leave Buy-Out. Resignation and Retirement provisions are contained in Article VI, Sections R and S. Employees who have an accrued leave value of more than $3,500 and have reached age 50 are eligible for the special pay plan as administered through the District‘s designated vendor. An accumulated general leave reimbursement program is provided for all retiring employees who are eligible and have applied to receive Arizona State Retirement benefits. Employees who submit a resignation for the purpose of retirement by March 31st of any given school year will receive a thirty percent (30%) buy back of their accumulated general leave based upon their current hourly rate up to 1200 hours after June 30 of the current year. Employees who submit a resignation for the purpose of retirement after March 31st of any given school year shall be required to wait until after January 1st of the following school year to receive this thirty percent (30%) general leave buy back. There were 34 classified employees who on July 1, 2010 had more than 1200 hours of General Leave. Those employees will be grandfathered into a payout for those hours as follows: If they retired by June 30, 2011, they received the full payout of 30%. Those not retiring received 10% of the time accrued over 1200 hours. Those retiring by June 30, 2012, will receive 30% of their balance up to 1200 hours and 20% of the hours above 1200. Those not retiring will receive another 10% of the hour above 1200. Those retiring by June 30, 2013, will receive 30% of their balance up to 1200 hours and the final 10% of the hours above 1200. Those not retiring would get the final 10% of the hours above 1200. In case of death of an employee, accumulated unused general leave shall be paid to the estate of the deceased classified employee at the same rate of reimbursement as that paid to classified employees upon retirement. Classified employees who are retiring at age 50 or older and have $3,500 in accrued general leave are required to participate in the District‘s Special Pay Plan upon retirement. The District determines how the employee‘s contribution will be allocated based upon the employee‘s responses to an exit interview. Also reference Article IV, Section U and Article VI, Section R
Leave Buy-Out. General Leave Buyback Upon termination, an employee with accumulated general leave shall, after five (5) consecutive years of employment with the District, receive compensation to reflect 50% of the then current daily rate of pay for substitute teachers for that number of accumulated days. In the event of death of an employee, the legal heirs of the deceased employee shall be awarded, as soon as possible, the District life insurance policy death benefit and any accrued salary benefits earned by the employee. This would include financial reimbursement for unused general leave and vacation. (GCCA)
Leave Buy-Out. USD 405 will provide for all teachers, upon written notification of retirement intentions, a provision to compensate the retiring teacher for all accumulated leave. The lump sum payment of this retirement benefit will be payable on the last payroll of the teacher's employment. The amount for leave buy-back shall be as follows, dependent upon the date of notification of early retirement to the Superintendent:
Leave Buy-Out. Employees shall have the option of receiving pay at straight time up to a maximum of 120 hours of annual leave time, per year subject to the following provisions: Eligible leave for “Buy Out” requirements;
Leave Buy-Out. Employees shall have the option of receiving pay at straight time up to a maximum of 48 hours for of leave time per year subject to the following provisions: Any employee wishing to exercise the “Leave Buy Out” option must exercise this option between November 1st and November 15th , of the year in which the requirements have been met. The employee shall make this request in writing to the Fire Chief or designee. Any decision to exercise this option subsequent to November 15th of the year in which the requirements have been met shall not be considered. Employees in a New Hire Probationary status are not eligible to participate until after six (6) months of continuous employment.
