PAYMENT FOR SICK DAYS AT RETIREMENT Sample Clauses

PAYMENT FOR SICK DAYS AT RETIREMENT. Upon retirement, employees who have accumulated sick leave in excess of 120 days of sick leave and have banked these days will be paid 50% of the banked days at their rate of pay during the last full year of employment up to a maximum of 40 days.
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PAYMENT FOR SICK DAYS AT RETIREMENT. A. Payment will be made to the teacher at retirement at a rate of $65 per day for each accumulated up to 270 days. The method of payment of said monies will be agreed upon by the retiring teacher and the District.
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PAYMENT FOR SICK DAYS AT RETIREMENT. LUMP SUM BENEFITS A. Full time teachers and teaching assistants choosing this option must meet the following conditions: 1. Must have completed fifteen (15) years of service as a teacher or teaching assistant in this school district prior to the effective date of the retirement. 2. Must be eligible for retirement as of June 30 and must retire within the first five (5) years of eligibility for retirement with unreduced benefits. As documentation of their eligibility for retirement benefits all prospective retirees shall be permitted to use the most recent annual report from NYSTRS. 3. Must submit a letter of retirement to the Board of Education at least six (6) months in advance of retirement to be effective at the end of a semester. The teacher must complete his/her teaching assignment up to the effective retirement date. Paid leaves of absence shall be considered as days worked. B. Payment of sick days at retirement shall be in a lump sum based on the following: 1. The payment of sick days at retirement shall be based on the teacher or teaching assistant’s accrued sick leave, on his/her last day of employment, up to a maximum of 260 days. 2. Payment due for each day accrued shall be: 0 to 50 days @ $20 up to $1,000 51 to 150 days @ $40 up to $4,000 151 to 260 days @ $60 up to $6,600 Example calculations: 71 days 260 days 50 days at $20 = $1,000 50 days at $20 = $1,000 21 days at $40 = $ 840 100 days at $40 = $4,000 110 days at $60 = $6,600 3. Teaching Assistants will be entitled to one-half (1/2) of the teacher rates for payment for sick days at retirement. See VIII.J.4
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PAYMENT FOR SICK DAYS AT RETIREMENT. A. Payment will be made to the administrator at retirement at a rate of $75.00 per day for each accumulated day up to 220 days. The method of payment of said monies will be agreed upon by the retiring administrator and the District.
Sample 1
PAYMENT FOR SICK DAYS AT RETIREMENT. LUMP SUM BENEFITS A. Full time teachers, teaching assistants and Certified Occupational Therapists choosing this option must meet the following conditions: 1. Must have completed fifteen (15) years of service as a teacher or teaching assistant or Certified Occupational Therapist in this school district prior to the effective date of the retirement. 2. Must be eligible for retirement as of June 30. As documentation of their eligibility for retirement benefits, all prospective retirees shall be permitted to use the most recent annual report from NYSTRS. 3. Must submit a letter of retirement to the Board of Education at least six (6) months in advance of retirement to be effective at the end of a semester. The teacher must complete his/her teaching assignment up to the effective retirement date. Paid leaves of absence shall be considered as days worked. B. Payment of sick days at retirement shall be in a lump sum based on the following: 1. The payment of sick days at retirement shall be based on the teacher, teaching assistant’s or Certified Occupational Therapist’s accrued sick leave, on his/her last day of employment, up to a maximum of 260 days. 2. Payment of sick days at retirement shall be in a lump sum at a rate of $50 per day.
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Related to PAYMENT FOR SICK DAYS AT RETIREMENT

  • Payment for annual leave (a) Before going on annual leave, an employee will be paid the amount of wages they would have received for ordinary time worked had they not been on leave during that period. (b) At the election of the employee such payments may be paid in accordance with the usual pay day relevant to the period of leave being taken.

  • Payment for period of leave 30.9.1. Each employee before going on leave shall be paid the amount of wage he/she would have received in respect of the ordinary time which he/she would have worked had he/she not been on leave during the relevant periods. For the purpose of this clause and 29.1 wages shall be at the rate prescribed by the relevant part of Schedule 3 for the classification in which the employee was ordinarily employed immediately prior to the commencement of his/her leave.

  • Payment for Unused Sick Leave (a) An employee with less than ten (10) years of FIU service who separates from FIU shall not be paid for any unused sick leave. (b) An employee who has completed ten (10) or more years of FIU service, has not been found guilty or has not admitted to being guilty of committing, aiding, or abetting any embezzlement, theft, or bribery in connection with State government, or has not been found guilty by a court of competent jurisdiction of having violated any State law against or prohibiting strikes by public employees, and separates from FIU because of retirement for other than disability reasons, termination, or death, shall be compensated at the employee's current regular hourly rate of pay for one-eighth of all unused sick leave accrued prior to October 1, 1973, plus one- fourth of all unused sick leave accrued on or after October 1, 1973; provided that one-fourth of the unused sick leave since 1973 does not exceed 480 hours. The compensation in this paragraph 8(4)(b) shall not be given to an employee who starts employment at FIU on or after July 1, 2006. (c) Upon layoff, an employee with ten (10) or more years of FIU service shall be paid for unused sick leave as described in paragraph b., above, unless the employee requests in writing that unused sick leave be retained pending re-employment. For an employee who is re-employed by the University within twelve (12) calendar months following layoff, all unused sick leave shall be restored to the employee, provided the employee requests such action in writing and repays the full amount of any lump sum leave payments received at the time of layoff. An employee who is not re- employed within twelve (12) calendar months following layoff shall be paid for sick leave in accordance with this Policy. (d) All payments for unused sick leave shall be made in lump sum and shall not be used in determining the average final compensation of an employee in any State administered retirement system. An employee shall not be carried on the payroll beyond the last official day of employment, except that an employee who is unable to perform duties because of a disability may be continued on the payroll until all sick leave is exhausted. (e) If an employee has received a lump sum payment for accrued sick leave, the employee may elect in writing, upon re-employment within 100 days, to restore the employee's accrued sick leave. Restoration will be effective upon the repayment of the full lump sum leave payment. (f) In the event of the death of an employee, payment for unused sick leave at the time of death shall be made to the employee's beneficiary, estate, or as provided by law.

  • Payment for leave (a) Payment will be made based on the Employee’s ordinary pay for the ordinary hours the Employee would have worked on the day or days on which the leave was taken. (b) An Employee utilising personal leave may take leave for part of a single day. Leave will be deducted from the Employee’s accrued personal leave including, where relevant, for a part day.

  • Payment for Overtime 1. Except as provided in 2.C.3., below, overtime shall be compensated at one and one-half (1 1/2) times the regular rate. 2. Except as provided in 2.C.3., below, for all regular, limited-term and probationary employees, overtime may be converted to compensatory time or paid for at the option of the agency/department. Consideration shall be given to effectuating the wishes of employees. The maximum number of CTO hours which may be accrued by any employee is eighty (80). If an employee accrues 80 hours of CTO, he/she cannot accrue additional CTO until he/she uses some of the hours in his/her bank; instead, employees will be paid for all overtime work performed in excess of that amount. 3. Overtime hours worked by extra help employees shall be paid. 4. Compensatory time earned and accrued by an employee in excess of thirty-two (32) hours may be scheduled off for an employee by his or her agency/department; however, consideration shall be given to effectuating the wishes of those employees requesting specific compensatory time off periods. 5. No scheduled compensatory time off will be cancelled except in cases of emergency. 6. In no case may an employee's work schedule be changed during the workweek when the purpose of such change is to avoid overtime compensation. 7. Time worked as overtime shall not be used to earn fringe benefits or to serve out probation or merit increase periods. Compensatory time off may be used as part of the established workweek to earn fringe benefits and to serve out probationary and merit increase periods. 8. An employee separating from the County service shall be paid for accumulated compensatory time in a lump sum payment.

  • 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.

  • Retirement Gratuity Those employees who, on August 31, 2012, were eligible for a retirement gratuity shall have their accumulated sick days vested as of that date, up to the maximum eligible under the retirement gratuity plan.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Payment for Working Overtime on a Holiday Where an employee is required to work authorized overtime in excess of his regularly scheduled hours on a paid holiday, such employee shall receive twice (2x) his regular straight time hourly rate for such authorized overtime.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

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