Leaves at Retirement Sample Clauses

Leaves at Retirement. At the time of their retirement, licensed professionals may request the District to add to their final paycheck in June or their last working day, compensating them for the number of days of their accumulated, unused sick leave, valued at $45 per leave day, up to a maximum of $10,000 for employees retiring under OPSRP. If eligible, Tier I and Tier II employees may request the District payout the number of days they accumulate, unused sick leave valued at $45 per leave day, up to a maximum of $5000. Tier I and II employees must show the Notice of Entitlement, from PERS, that they did not use unused sick leave as part of their PERS retirement formula. The sick leave will be paid out on the 15th of the month after the Notice of Entitlement is received. (Example: Notice of Entitlement is receive in July, Sick leave payout will be on August 15th.)
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Leaves at Retirement. At the time of their retirement, licensed professionals may request the District to add to their final paycheck in June or their last working day, the number of days of their accumulated, unused sick leave, valued at $45 per leave day, up to a maximum of $10,000 for employees retiring under OPSRP. If eligible, Tier I and Tier II employees may request the District to add to their final pay check in June or their last working day, the number of days of their accumulate, unused sick leave valued at $45 per leave day, up to a maximum of $5000. Tier I and II employees must show official documentation, from PERS, that they did not use unused sick leave as part of their PERS retirement formula.
Sample 1

Related to Leaves at 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.

  • 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.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

  • Severance and Retirement Options (a) (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

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