Leave Conversion to Cash Sample Clauses

Leave Conversion to Cash. During Calendar Year 2022, an employee may elect to cash out up to one-hundred and twenty (120) hours of accrued vacation leave and/or general leave at their current regular rate of pay. On or before the beginning of the pay period which includes December 15 of each calendar year beginning in December 2022, an employee may make an irrevocable election to cash out up to one hundred and twenty (120) hours of accrued General Leave, which will be earned in the following calendar year at the employee’s regular rate of pay. The employee can elect to receive up to sixty (60) hours of General Leave cash out in the pay period that includes July 15. The employee shall receive any remaining General Leave cash out to which they irrevocably elected to cash out in the pay period that includes December 1. However, if the employee’s General Leave balance is less than the amount the employee elected to cash out (in the prior calendar year) the employee will receive cash for the amount of leave the employee has accrued at the time of the cash out.
Sample 1
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Related to Leave Conversion to Cash

  • Sick Leave Conversion On January 1 of each year, an employee may convert up to a maximum of 30 hours accumulated sick leave at fifty percent (50%) cash value for the sole purpose of reimbursing the employee for medical costs. This conversion is subject to the following:

  • Casual Conversion (a) A casual employee who has been rostered on a regular and systematic basis over a period of 26 weeks has the right to request conversion to permanent employment:

  • Conversion to Single Currency 31.1 For evaluation and comparison purposes, the currency(ies) of the Tender shall be converted in a single currency as specified in the TDS.

  • Termination for Non-Allocation of Funds 4.17.2 Renegotiate the Contract under the revised funding conditions; or

  • Traditional IRA-to-Xxxx XXX Conversions If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your Traditional IRA.

  • Conversion of Sick Leave 30 A. Based upon accrual as of July 1 each fiscal year, employees shall be allowed 31 to convert sick leave in accordance with the following schedule:

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