Common use of Remuneration at Separation Clause in Contracts

Remuneration at Separation. Upon the employee's separation from the District due to retirement or death, the employee or his or her estate shall receive remuneration for accrued compensable leave at a rate equal to one (1) day’s current monetary compensation for each four (4) full days of accrued leave. Per RCW 28B.50.551 and RCW 28B.50.553, upon separation for any other cause, all accrued leave shall be forfeited. In lieu of remuneration for unused compensable leave at retirement, equivalent funds may be contributed to a Voluntary Employee's Beneficiary Association (VEBA) plan pursuant to the rules of the applicable VEBA plan. The Union may give notice to the College at any time that they wish to cancel participation in the VEBA program consistent with the programs guidelines and IRS rules. Any payments received in accordance with this paragraph shall not be included for the purpose of computing a retirement allowance under any public retirement system. Payment under the preceding paragraphs shall be only for those days defined as compensable above. Leave days taken during the calendar year shall be deducted from the total accumulated during the calendar year to determine compensable days for that year. All accrued compensable leave must be exhausted before accrued non-compensable leave can be used.

Remuneration at Separation. Upon the employee's separation from the District due to retirement or death, the employee or his or her estate shall receive remuneration for accrued compensable leave at a rate equal to one (1) day’s current monetary compensation for each four (4) full days of accrued leave. Per RCW 28B.50.551 and RCW 28B.50.553, upon separation for any other cause, all accrued leave shall be forfeited. In lieu of remuneration for unused compensable leave at retirement, equivalent funds may be contributed to a Voluntary Employee's Beneficiary Association (VEBA) plan pursuant to the rules of the applicable VEBA plan. The Union may give notice to the College at any time that they wish to cancel participation in the VEBA program consistent with the programs program’s guidelines and IRS rules. Any payments received in accordance with this paragraph shall not be included for the purpose of computing a retirement allowance under any public retirement system. Payment under the preceding paragraphs shall be only for those days defined as compensable above. Leave days taken during the calendar year shall be deducted from the total accumulated during the calendar year to determine compensable days for that year. All accrued compensable leave must be exhausted before accrued non-compensable leave can be used.