Mandatory Accrued Sick Leave Contribution (at Retirement) Sample Clauses

Mandatory Accrued Sick Leave Contribution (at Retirement). In the event of service retirement, disability retirement, or death of an employee who has completed ten (10) or more years of continuous service with the City, the City shall irrevocably contribute to the employee’s Trust account on a pre- tax basis an amount equal to fifty percent (50%) of his or her accumulated but unused sick leave, not to exceed seven hundred (700) hours. Payment shall be made at the base pay rate in effect at the time of separation and shall include longevity pay pursuant to section 7.2. In the event of service retirement, disability retirement, or death of an employee who has completed ten (10) or more years of continuous service with the City, and who is assigned to a 56-hour work week, the City shall irrevocably contribute to the employee’s Trust account on a pre-tax basis an amount equal to fifty percent (50%) of his or her accumulated but unused sick leave, not to exceed one thousand (1000) hours. Payment shall be made at the base pay rate in effect at the time of separation and shall include longevity pay pursuant to section 7.2. Effective upon implementation of the Trust, the City shall contribute these payments into the Trust and employees shall no longer be eligible to receive a payment.
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Related to Mandatory Accrued Sick Leave Contribution (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.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Vacation Pay on Retirement Termination is as follows:

  • 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.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Mandatory Retirement Retirement shall be mandatory only to the extent required by law.

  • Sick Leave to Establish EI Maternity Benefits If the Employee will be able to establish a new EI Maternity Benefit claim in the six weeks immediately following the birth of her child through access to sick leave at 100% of her regular salary, she shall be eligible for up to six weeks leave at 100% of her regular salary without deduction from the sick days or short term disability leave days (remainder of six weeks topped-up as SEB).

  • Accrued 100% sick leave The use of sick leave under this subsection is at the employee's discretion.

  • 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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