Common use of Payment for Accrued Sick Leave at Retirement Clause in Contracts

Payment for Accrued Sick Leave at Retirement. 17.15.1 At the time of retirement from active service, Faculty Members who are members of a retirement system and who meet the age and service or disability requirements to be eligible for retirement under the applicable system, and have applied for and will begin drawing a pension benefit from the applicable retirement plan, and with ten or more years of service with the University, the State, or any of its political subdivisions, may elect to be paid in cash for one-fourth of the value of unused, accrued sick leave credit, up to a maximum of thirty (30) days.

Payment for Accrued Sick Leave at Retirement. 17.15.1 17.13.1 At the time of retirement from active service, Faculty Members Bargaining Unit members who are members of a retirement system and who meet the age and service or disability requirements to be eligible for retirement under the applicable system, and have applied for and will begin drawing a pension benefit from the applicable retirement plan, and with ten or more years of service with the University, the State, or any of its political subdivisions, may elect to be paid in cash for one-fourth of the value of unused, accrued sick leave credit, up to a maximum of thirty (30) days.