Payment of Accumulated Sick Leave Upon Retirement a. Upon the retirement of the employee or disability retirement of the employee, and the employee has completed ten (10) years of service, such employee shall be entitled to receive a cash payment equal to his basic rate of pay at the time of the above listed condition multiplied by thirty (30%) percent of the total number of accumulated unused sick hours earned by the employee and up to fifteen hundred (1500) and thirty-three and one third (33 1/3%) percent for all accumulated and unused sick hours earned by the employee in excess of fifteen hundred (1500) hours.
Payment of Accumulated Sick Leave Upon Retirement. Section 24.1. Upon retirement from active service with the City through a bonafide state retirement system, all employees shall be entitled to receive payment for their accrued but unused sick leave as follows: • For employees with fifteen (15) or more years’ service with the City of Wapakoneta as of January 1, 2014, an employee shall receive payment, provided the employee meets the requirements of the remainder of this Article, for one-half (50%) of their accrued but unused sick leave up to a maximum of 660 hours. • For employees with less than fifteen (15) years’ service with the City of Wapakoneta as of January 1, 2014, an employee shall receive payment, provided the employee meets the requirements of the remainder of this Article, for one-fourth (25%) of their accrued but unused sick leave up to a maximum of 480 hours.
