Payments at Retirement. An employee desiring to take advantage of these payments at retirement must submit a letter of resignation to Human Resources three (3) months prior to their retirement date. Section 1: Sick Leave Payout If an employee with ten (10) years of service with the College begins drawing retirement benefits under the provisions of the Michigan Public Schools Employee Retirement System (MPSERS) within thirty (30) calendar days of retirement, they shall be paid for their unused sick leave. Employees hired prior to December 1, 2009, will receive the maximum of eight hundred (800) hours. Employees hired December 1, 2009 and after are eligible to receive up to: July 1, 2019 through June 30, 2020 July 1, 2020 through June 30, 2021 July 1, 2021 through June 30, 2022 July 1, 2022 through June 30, 2023 Five hundred seventy-five (575) hours Six hundred fifty (650) hours Seven hundred twenty-five (725) hours Eight hundred (800) hours Part time employees shall have the benefit reduced according to their percent of full time employment.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
