Payment at Retirement. Payment for unused sick days is at the rate of one hundred percent (100%) of days accumulated at $100 per day to a maximum of $15,000.
Payment at Retirement. Bargaining Unit members who retire according to the rules and regulations established by the applicable retirement board, shall be compensated in a lump sum for that portion of unused sick leave up to the following level:
(a) For current Bargaining Unit members, all sick leave hours on credit up to a maximum of nine hundred sixty (960) hours, and twenty-five percent (25%) of all sick leave hours over nine hundred sixty (960) hours, up to a maximum of six hundred (600) hours (maximum of one hundred fifty [150] additional hours paid), or
(b) Bargaining Unit members hired after January 1, 2000, shall be entitled to a maximum of nine hundred sixty (960) hours or one-fourth of all sick leave on credit, whichever is less. Said lump sum payment shall be calculated on the basis of the Bargaining Unit member’s annual wage on retirement divided by two thousand eighty (2,080) multiplied by the number of sick leave hours for which he/she is to be paid. Such lump sum payment is to be made in full on the effective date of retirement, provided that the Bargaining Unit member has given the City six (6) months advance notice of the date of retirement.
Payment at Retirement. Upon retirement, administrators shall be paid for one-hundred percent (100%) of unused accumulated sick-leave days at the rate of $175/day up to a maximum of $20,000, upon ratification of the Agreement. The maximum payment for any employee hired on or after May 21, 2010 is $15,000.00. For employees who retire during the school year, the unused sick leave from the days credited during that year shall be prorated on the basis of the full calendar months worked for the purpose of calculating the payment.
Payment at Retirement. Effective January 1, 2013 any employee upon retirement who is eligible for compensation in accordance with Chapter 46 of the Borough Code, shall be entitled to compensation not to exceed $15,000.00 which shall be paid in the first pay period after final adoption of the municipal budget in the year subsequent to the employee's effective date of retirement, unless requested by the employee to be paid in equal installments over a one (1), two (2), or three (3) year period. Notice shall be provided in accordance with Article VI of this Agreement. The parties agree that should the State of New Jersey enact a law that reduces a cap of $15,000 then the parties agree that this shall become effective immediately, regardless of the contract terms.
Payment at Retirement. Those Contracted Drivers employed in Rockaway Township Public Schools for twenty (20) or more years shall be reimbursed upon honorable termination for unused sick leave based upon one (1) day reimbursement for each three (3) days of unused sick leave. These days shall be divided by three (3) and paid at the Contracted Drivers rate of pay for his/her final year of employment not to exceed $6,000.00.
Payment at Retirement. 1. Upon retirement at the end of the school year, the retiree shall be paid for 100 percent of the unused accumulated sick-leave days to a maximum of $15,000 at the per diem rate of $100. Teachers whose entitlement exceeded $15,000 on June 30, 1993, shall be capped at the amount earned by June 30, 1993.
2. For employees who retire during a school year, for purpose of calculating the payment, the unused sick leave from the days accumulated during that year shall be prorated on the basis of 1.2 days per month worked at the rate of the previous year.
Payment at Retirement. Bargaining unit members who retire according to the rules and regulations established by the applicable retirement board shall be compensated in a lump sum for unused sick leave as follows: For bargaining unit members hired before January 1, 2015, or the date contained in the patrol agreement, whichever is later:
A. All accrued sick leave hours up to a maximum of nine hundred sixty (960) hours; and
B. Twenty-five percent (25%) of all remaining sick leave hours up to a maximum of six hundred (600) hours (up to one hundred-fifty (150) hours at the current rate of pay). For bargaining unit members hired after January 1, 2015, or the date contained in the patrol agreement, whichever is later, twenty-five percent (25%) of their accumulation, not to exceed two hundred forty (240) hours paid. Said lump sum payment shall be calculated on the basis of the bargaining unit member’s base hourly rate multiplied by the number of sick leave hours for which he/she is to be paid. Such lump sum payment is to be made in full within thirty (30) days of retirement.
Payment at Retirement. A. Effective July 1, 1989, each employee shall be entitled, upon retirement for service and age or disability from a state administered retirement system, to receive a lump sum payment for one-third of the earned and unused accumulated sick leave which is credited to him/her on the effective date of his/her retirement in the manner and to the extent provided for herein. An employee who elects a deferred retirement benefit shall not be eligible for supplemental compensation payment.
B. Such supplemental compensation shall be computed as follows: The employee shall receive upon retirement one (1) day's pay for each three (3) days of earned and unused accumulated sick leave, and prorated for reduced sick leave entitlement resulting from an employee's retirement prior to the conclusion of any school year. The per diem rate for calculating each supplemental compensation shall be 1/200th of the salary received for ten (10) month employees or 1/240th of the salary received for twelve (12) month employees.
C. Notice of intention to claim the benefits provided herein must be made in writing to the Board on or before sixty (60) days prior to the date on which the retirement becomes effective. However, the “Board” will consider waiving the sixty (60) day notice in cases of emergency or unexpected circumstances.
D. There will be a Cap on total payment per employee at $5,000.00 except for those employees above $2,500.00 as of July 1, 1995. All employees above $2,500.00 according to attached Schedule C will earn $50.00 for each sick day accumulated above their total as of July 1, 1995. (Example – employee “A” has a currently valued sick-day payout of
Payment at Retirement. An employee who separates from the County employment for retirement purposes approved by Municipal Employees' Retirement System shall be paid one-half of his unused sick leave as of the effective date of separation. Payment of unused sick leave days under this section shall be at the employee's prevailing rate of pay and the payment of on-half of all accumulated leave days shall be based on a maximum possible accumulation of six hundred thirty (630) hours provided said employees has earned said hours.
Payment at Retirement. A. Each employee shall be entitled, upon retirement for service and age or disability from a state-administered retirement system, to receive a lump sum payment for one-third of the earned and unused accumulated sick leave which is credited to him/her on the effective date of his/her retirement in the manner and to the extent provided for herein. An employee who elects a deferred retirement benefit shall not be eligible for supplemental compensation payment. A minimum of five (5) years’ service is required for eligibility.
B. Such supplemental compensation shall be computed as follows: The employee shall receive upon retirement one (1) day’s pay for each three (3) days of earned and unused accumulated sick leave, and prorated for reduced sick leave entitlement resulting from an employee’s retirement prior to the conclusion of any school year. The per diem rate for calculating such supplemental compensation shall be 1/180 of the salary received during the last year of employment.
C. Notice of intention to claim the benefits provided herein must be made in writing to the “Board” on or before November 1st of the prior year on which the retirement becomes effective. However, the “Board” will consider waiving the sixty-day notice in cases of emergency or unexpected circumstances.
D. A cap on the supplemental compensation will be established at $2,500.00.
