PAYOUT OF ACCRUED SICK LEAVE UPON SEPARATION OR RETIREMENT Sample Clauses

PAYOUT OF ACCRUED SICK LEAVE UPON SEPARATION OR RETIREMENT. 1. Employees hired or promoted into this bargaining unit on or before June 4, 2018: Upon separation of employment, fifty percent (50%) of accrued sick leave shall be paid out to the employee at his/her base hourly rate of pay unless otherwise provided by state law. The maximum accrued sick leave that can be cashed out is eight hundred (800) hours. For MEMORANDUM OF UNDERSTANDING BETWEEN THE POLICE MANAGEMENT GROUP AND THE CITY OF COVINA Effective July 1, 2021 example, an employee with 800 hours accrued would receive 50% of his/her accruals, or 400 hours cashed out.
Sample 1
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Related to PAYOUT OF ACCRUED SICK LEAVE UPON SEPARATION OR RETIREMENT

  • Accrued Sick Leave The Board shall provide all employees with a cumulative record 23 of accrued sick leave hours on each pay statement.

  • 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.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Accrued 100% sick leave The use of sick leave under this subsection is at the employee's discretion.

  • Vacation Pay Upon Termination When an employee in the bargaining unit is terminated for any reason, he/she shall be entitled to all vacation pay earned and accumulated up to and including the effective date of the termination.

  • Vacation Credits Upon Death Earned but unused vacation entitlement shall be made payable, upon termination due to death, to the employee's dependent, or where there is no dependent, to the employee's estate.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Sick Leave to Establish EI Maternity Benefits If the Employee will be able to establish a new EI Maternity Benefit claim in the six weeks immediately following the birth of her child through access to sick leave at 100% of her regular salary, she shall be eligible for up to six weeks leave at 100% of her regular salary without deduction from the sick days or short term disability leave days (remainder of six weeks topped-up as SEB).

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