Payout of Sick Leave. When an employee age 55 or older opts for severance pay he/she will also qualify in accordance with Article 12.6(a), for an amount equal to 50% of accumulated sick leave credits on the date of severance.
Payout of Sick Leave. 1. Except as specified below, upon separation of employment, each bargaining unit member who has completed at least twenty years of service within the bargaining unit, shall receive, upon separation of employment, the amount of 60 dollars for each accumulated and unused paid sick leave days remaining in their sick leave bank, up to a maximum of 150 days.
2. Such payments will not be made if any of the following occurs:
a. The employee does not provide at least 60 days written notice of separation to their Supervisor and the Human Resources Director of Compensation and Benefits.
b. The employee is terminated for misconduct.
Payout of Sick Leave. An employee entitled to sick leave under this Article shall receive forty percent (40%) of his unused accumulated sick leave upon:
(a) retirement on or after the attainment of the minimum retirement age in conformity with the Municipal Superannuation Act of B.C., whichever shall last occur, or
(b) retirement with a permanent disability entitling the employee to superannuation, or
(c) death of an employee while in the service of the Employer, payable to the employee’s estate, or
(d) severance, with five (5) or more years of seniority, as a payout of accumulated sick leave credits. This clause does not apply to employees dismissed for just cause or who resign unless the resignation follows layoff. *Note: Employees who were hired prior to September 13, 2005 will be grandparented to continue to receive severance, with five (5) or more years of seniority, as a payout of accumulated sick leave credits.
Payout of Sick Leave. Employees who leave employment for any reason shall forfeit all accrued sick leave, with two exceptions. The first exception is for employees who are eligible for and have placed additional sick leave in a separate medical savings account as described in Section 1 above. If such employee leaves employment with the Employer, the employee forfeits his/her accrued sick leave but is entitled to utilize any money in that employee’s medical savings account. The second exception is for employees who leave employment for a normal retirement, including duty disability retirement. Such employees shall have one hundred percent (100%) of their accrued sick leave hours converted to cash at the hourly rate in effect at the time of retirement and placed in an IRS approved tax exempt medical savings account.
Payout of Sick Leave. All bargaining unit employees will be permitted to request, with 30 days’ notice, a payout of any/all amounts of sick leave accrued in accordance with the schedule outlined in Section 10.4, above, with one exception: an employee must maintain a minimum of 10 days accrued sick time. If an employee requests a payout that leaves the employee with less than 10 accrued sick days remaining, the payout will be reduced so that 10 accrued sick days remain. Payouts will be permitted no more than one (1) time per year.
Payout of Sick Leave. Where an employee retires from the workforce, their sick leave accrual will be paid out to them.
Payout of Sick Leave. Whereas certain employees, while working for the Ministry of Agriculture and Fisheries, have accumulated sick leave benefits and these funds were given to the Employer in trust and whereas these benefits are used to provide twenty-five percent (25%) salary "topping up" when the employee is ill, therefore, when an employee age fifty-five (55) or older opts for severance pay or early retirement he/she will receive an amount equal to fifty percent (50%) of accumulated sick leave credits on the date of severance or retirement.
Payout of Sick Leave. There shall be no payout for the first 1,000 hours of accumulated sick leave. All balances for current employees over 1,000 hours as of June 30, 2013, will be frozen. By either retirement or separation with 25 years of service, these hours will be paid at the June 30, 2013 rate of pay at 100% into the
Payout of Sick Leave. The City will pay upon retirement or termination between minimum age of fifty-five (55) and maximum age of sixty-five (65) and upon death of any age, twenty-five percent (25%) of unused sick leave accumulation, plus after five (5) years service an additional two percent (2%) per year based on a maximum of one hundred and forty (140) days accumulated sick leave. Payment will be made at the employee's current base rate of pay. Employees not covered by the Municipal Superannuation Act qualify for the benefits under this article. Notwithstanding the above, it is agreed that the payout entitlements contained in this article shall be confirmed to existing entitled employees on the City's payroll as at July 12, 1993. New employees shall be entitled to all rights as contained in Article XI except such payouts.
Payout of Sick Leave. Other than as specifically provided within this Agreement, payout of sick leave is not required by this Agreement.
