Payment for Accumulated Sick Leave. A. An employee will receive payment for accumulated sick leave in accordance with School Policy 2.14. Payment for such leave will be based on the following schedule:
1. During the first three years of service, the daily rate of pay multiplied by thirty-five (35) percent times the number of days of accumulated sick leave.
2. During the next three years of service, the daily rate of pay multiplied by forth (40) percent times the number of days of accumulated sick leave.
3. During the next three years of service, the daily rate of pay multiplied by forty-five (45) percent times the number of days of accumulated sick leave.
4. During the next three years of service, the daily rate of pay multiplied by fifty (50) percent times the number of days of accumulated sick leave.
5. During and after the thirteen (13) years of service, the daily rate multiplied by 100 percent times the number of days of accumulated sick leave.
Payment for Accumulated Sick Leave. Beginning with employees retiring during the 2005-2006 school year, an applicable dollar amount of the unused sick leave accumulated by a full-time certificated employee who resigns or dies after 18 creditable years of service to the Omaha Public Schools, or who retires through normal, early or disability retirement under the Omaha School Employees' Retirement System, shall be paid or applied to provide supplemental retirement or post-retirement medical care benefits as follows:
1. The applicable dollar amount of the employee's unused sick leave shall be calculated as follows: 50% of the employee's contracted daily rate at the time of retirement or resignation, termination due to reduction-in-force, or death multiplied by the number of unused sick days, not to exceed the maximum days accumulation as defined in Section DD, Paragraph 9a.
2. If the employee dies after 18 creditable years of service to the Omaha Public Schools, the applicable dollar amount of the employee's unused sick leave shall be paid to the employee's estate in a lump sum within 60 days of the employee's death.
3. If the number of the employee's unused sick leave days at the time of the employee's resignation or retirement is less than 10, the applicable dollar amount of the employee's unused sick leave shall be paid in a lump sum to the employee within 60 days of such resignation or retirement.
4. If the number of the employee's unused sick leave days at the time of the employee's resignation or retirement is 10 or more, the applicable dollar amount of the employee's unused sick leave shall be applied to provide supplemental retirement income benefits and/or post-retirement medical care benefits pursuant to the terms and conditions of the Omaha Public Schools Accumulated Sick Leave Conversion Plan. The employee shall not have any option to receive a cash payment of the applicable dollar amount of the unused sick leave or to have the unused sick leave applied to provide any form of benefit that is not provided under the Omaha Public Schools Accumulated Sick Leave Conversion Plan. A full-time certificated employee who is terminated from employment because of a reduction-in-force shall, regardless of the number of the employee's creditable years of service to the Omaha Public Schools, be paid the applicable dollar amount of the employee's unused sick leave in a lump sum within 60 days of such termination.
Payment for Accumulated Sick Leave. A. At and after the normal retirement date or at the time of disability retirement, an employee, or his/her beneficiary if service is terminated by death, will receive terminal pay for accumulated sick leave pursuant to the following during: - The first three (3) years of service, the daily rate of pay multiplied by thirty- five (35) percent times the number of days of accumulated sick leave. - The next three (3) years of service, the daily rate of pay multiplied by forty
Payment for Accumulated Sick Leave. The City shall pay upon non-job related death of an employee or employee who has had ten (10) years of service with the City, payment equal to ten percent (10%) of employee’s total accumulated sick leave and an employee who has had twenty (20) years of service with the City, payment equal to fifteen percent (15%) of employee’s total accumulated Xxxx Leave earned with the City. In the event of a job-related death or total permanent disability as determined under Workers Compensation, the City shall pay 100% of the accumulated sick leave to employee’s beneficiary or estate. The payment shall be computed at the employee's hourly rate of compensation at retirement or death. Retirement shall mean retirement from the Nevada PERS. It shall also be understood that the employee retiring shall be paid, unless terminated for "cause."
Payment for Accumulated Sick Leave. A. At the time of an employee’s normal retirement, at the time of an employee’s participation in the Deferred Retirement Option Program (DROP), or on the occasion of payment to his/her beneficiary should service be terminated by death, an employee will receive terminal pay for accumulated sick leave pursuant to the following:
1. During the first three years of service, the daily rate of pay multiplied by 35 percent times the number of days of accumulated sick leave.
2. During the next three years of service, the daily rate of pay multiplied by 40 percent times the number of days of accumulated sick leave.
3. During the next three years of service, the daily rate of pay multiplied by 45 percent times the number of days of accumulated sick leave.
4. During the next three years of service, the daily rate of pay multiplied by 50 percent times the number of days of accumulated sick leave.
5. During and after the 13th year of service, the daily rate multiplied by 100 percent times the number of days of accumulated sick leave. “Normal retirement,” as used in this section, shall mean as defined under any plan established by the Legislature with either full or reduced benefits as provided by law.
B. An employee who participates in DROP will receive pay for accumulated sick leave as indicated in paragraph A above. The rate of pay for such leave shall be based upon the base salary rate of the employee at the time payment occurs. Such leave shall be paid in equal annual installments in each of the years in DROP. The first payment will be made following receipt of the audited leave record from the end of the month immediately prior to entering DROP. Subsequent payments will be made following receipt of the audited leave record from the end of the month immediately prior to the retirement (DROP) anniversary date. Actual dates of these payments will depend upon the date the audited leave records become available.
C. An employee who begins participation in DROP but elects to cancel DROP shall, within six (6) months of the DROP cancellation, be required to repay Xxxx County Schools all sick leave pay previously received as part of DROP. Repayment of such sick leave will be deducted from the individual’s six (6) paychecks immediately following notification of termination of DROP. Repaid sick leave time will be returned to the account of the employee as if there had been no DROP participation.
Payment for Accumulated Sick Leave. A bargaining unit member who is retiring and is not eligible to receive the Retirement Incentive outlined in Article 16.3 may receive payment for their accumulated sick leave days at the rate of $40 per day. The above schedule shall apply to the number of sick leave days accumulated as of the prior June 30 for unit members who retire during a school year. Written notification must be provided to the Superintendent by February 1 of the year preceding retirement or, if retiring during the school year, must provide written notification to the Superintendent 120 days prior to the retirement date. This notification requirement may be waived by the Superintendent under extraordinary circumstances.
Payment for Accumulated Sick Leave. Upon retirement any member of the bargaining unit shall receive as payment for accumulated sick leave twenty percent (20%) of the total number of the accumulated sick days. This amount shall not be counted to calculate retirement benefits.
Payment for Accumulated Sick Leave. (1) At the time of an approved retirement of any member, all sick leave up to a maximum of one hundred (100) days cumulative to the effective date of retirement shall be paid in a lump sum to the employee.
(2) At the time of a death of any member, all sick leave up to a maximum of one hundred (100) days cumulative to the date of the death shall be paid in a lump sum to the employee's designated beneficiary, or in lieu thereof, to the estate of the employee.
(3) For employees hired by the City on or after 7/1/2013, at the time of an approved retirement of any member, all sick leave up to a maximum of fifty (50) days cumulative to the effective date of retirement shall be paid in a lump sum to the employee.
(4) For employees hired by the City on or after 7/1/2013, at the time of a death of any member, all sick leave up to a maximum of fifty (50) days cumulative to the date of the death shall be paid in a lump sum to the employee's designated beneficiary, or in lieu thereof, to the estate of the employee.
Payment for Accumulated Sick Leave. A. At and after the normal retirement date or at the time of disability retirement, an employee, or his/her beneficiary if service is terminated by death, will receive terminal pay for accumulated sick leave pursuant to the following during: - The first three (3) years of service, the daily rate of pay multiplied by thirty-five (35) percent times the number of days of accumulated sick leave. - The next three (3) years of service, the daily rate of pay multiplied by forty (40) percent times the number of days of accumulated sick leave. - The next three (3) years of service, the daily rate of pay multiplied by forty-five (45) percent times the number of days of accumulated sick leave. - The next three (3) years of service, the daily rate of pay multiplied by fifty (50) percent times the number of days of accumulated sick leave. - And after the 13th year of service, the daily rate of pay multiplied by 100 percent times the number of days of accumulated sick leave. For the purpose of this section, the phrase “normal retirement date” shall mean retirement as defined in Sections 121.021(29) or 238.07(2)(e)1 and (f), F.S. (2000).
B. Employees eligible to receive terminal leave pay, as provided above, shall participate in the Board-approved 401(a) Qualified Retirement Plan, subject to a minimum contribution level established by the Board in consultation with LCTA. The 401(a) Qualified Retirement Plan allows participating employees to defer federal income tax and permanently avoid the payment of Social Security tax and Medicare tax on eligible plan contributions of terminal sick leave payout. Participating employees who wish to withdraw their funds under conditions that subject the funds to the early withdrawal penalty assessed by the Internal Revenue Service will be reimbursed a 2.35 percent portion of such ten (10) percent penalty upon application to the District pursuant to District procedures for such reimbursement.
C. An employee who participates in the Deferred Retirement Option Program (DROP) will receive pay for accumulated sick leave as indicated in paragraph A, above. The rate of pay for such leave shall be based upon the base salary rate of the employee at the time payment occurs. Such leave will be paid in equal annual installments in each of the years in DROP. The first payment will be made following receipt of the audited leave record from the end of the month immediately prior to entering DROP. Subsequent payments will be made following receipt of th...
Payment for Accumulated Sick Leave. Compensation for accumulated sick leave days shall be at the rate of one-half (1/2) the employee’s highest per-diem rate during the last five (5) years of employment as determined by the nurse’s salary schedule. (See Administrative Procedure 4751.3,
