Post-Retirement Unused Sick Leave Payment. The District shall pay a service recognition payment for eligible unused sick leave days. Eligibility for such payment shall be determined by multiplying the unused accumulated sick leave days of the employee in excess of those days eligible for retirement credit by sixty- five dollars ($65) This payment shall be due and payable to the employee in one
Post-Retirement Unused Sick Leave Payment. The District shall pay a service recognition payment for eligible unused sick leave days. Eligibility for such payment shall be determined by multiplying the unused accumulated sick leave days of the employee in excess of those days eligible for retirement credit by seventy-five dollars ($75). This payment shall be due and payable to the employee in one (1) lump sum after the employee’s last day of employment (i.e., date of resignation from the District as stated in Paragraph XI.1.C notice) and after the employee’s receipt of the last paycheck for regular earnings, but no later than thirty (30) days after the latter of these two (2) dates. The parties intend that such post- resignation unused sick leave payment would constitute non-creditable earnings.
Post-Retirement Unused Sick Leave Payment. A teacher who meets the eligibility criteria established in this Section will also receive a payment of $45 per unused day of sick leave not used by the teacher for service credit through TRS. This payment shall be paid as a lump sum retirement benefit and shall be due and payable within 60 days after the teacher’s final paycheck for regular earnings and after the teacher’s retirement under TRS rules.
