Common use of Payout at Retirement Clause in Contracts

Payout at Retirement. Employee who retire from the college and qualifies for retirement benefits under the Michigan Public School Employees Retirement System shall be entitled to be paid for their unused sick and emergency leave allowance as follows: Up to 70 days - full straight-time daily rate exclusive of shift differential 70 to 140 days - One-half of straight-time daily rate exclusive of shift differential

Payout at Retirement. Employee An employee who retire retires from the college College and qualifies for retirement benefits under the Michigan Public School Employees Retirement System shall be entitled to be paid for their unused sick and emergency leave allowance as follows: Up to 70 days - full straight-time daily rate exclusive of shift differential 70 to 140 days - One-half of straight-time daily rate exclusive of shift differential