Common use of Payment at Time of Retirement Clause in Contracts

Payment at Time of Retirement. The City will pay to employees at the time of their retirement, fifty (50) percent of unused sick leave up to a maximum of seventy- five (75) days at the employees then current level of compensation; or payable on death of employee to employee's estate or designated beneficiary. Retirement for the purposes of this benefit only shall mean voluntary separation after ten (10) years of service or for disability incurred in the employ of the City.

Payment at Time of Retirement. The City will pay to employees at the time of their retirement, fifty forty (5040) percent of unused sick leave up to a maximum of seventy- five sixty (7560) days at the employees then current level of compensation; or payable on death of employee to employee's estate or designated beneficiary. Retirement for the purposes of this benefit only shall mean voluntary separation after ten (10) years of service or for disability incurred in the employ of the City.ten

Payment at Time of Retirement. The City will pay to employees at the time of their retirement, fifty (50) percent of unused sick leave up to a maximum of seventy- seventy five (75) days at the employees then current level of compensation; or payable on death of employee to employee's estate or designated beneficiary. Retirement for the purposes of this benefit only shall mean voluntary separation after ten (10) years of service or for disability incurred in the employ of the City.