Common use of Payment of Unused Sick Leave on Retirement Clause in Contracts

Payment of Unused Sick Leave on Retirement. Retirement Gratuities were frozen as of August 31, 2012. Employees are not eligible to receive a sick leave credit gratuity or any non-sick leave credit retirement gratuity (such as but not limited to, service gratuities or RRSP contributions) after August 31, 2013, except a sick leave credit gratuity that the Employee had accumulated and was eligible to receive as of that day. Employees who retire (normal or early retirement options as defined in the OMERS regulation) or employees who are eligible for a deferred pension (as defined in the OMERS regulations) shall be granted a Retirement Allowance based upon fifty per cent (50%) of their accumulated sick leave at the time of retirement times the employee's daily salary rate. To be eligible for the benefits of this Article 20.02, an employee must have a minimum of ten (10) years of credited active, continuous service with the employer or uninterrupted service with predecessor boards. Predecessor boards are defined as the existing boards in 1998 that were superseded by the Rainy River District School Board. At the employee's choice, the payment of this allowance shall be:

Payment of Unused Sick Leave on Retirement. Retirement Gratuities were frozen as of August 31, 2012. Employees are not eligible to receive a sick leave credit gratuity or any non-sick leave credit retirement gratuity (such as but not limited to, service gratuities or RRSP contributions) after August 31, 2013, except a sick leave credit gratuity that the Employee had accumulated and was eligible to receive as of that day. Employees who retire (normal or early retirement options as defined in the OMERS regulation) or employees who are eligible for a deferred pension (as defined in the OMERS regulations) shall be granted a Retirement Allowance based upon fifty per cent (50%) of their accumulated sick leave at the time of retirement times the employee's daily salary rate. To be eligible for the benefits of this Article 20.04 20.02, an employee must have a minimum of ten (10) years of credited active, continuous service with the employer or uninterrupted service with predecessor boards. Predecessor boards are defined as the existing boards in 1998 that were superseded by the Rainy River District School Board. At the employee's choice, the payment of this allowance shall be: