Common use of Resignation and/or Retirement Clause in Contracts

Resignation and/or Retirement. A person about to resign or about to retire under the provisions of the state retirement act or who is to be terminated without fault on their part, and who has earned annual leave may be granted annual leave for the time so earned. The annual leave must be taken prior to the effective date of any such resignation, retirement or termination; or, in lieu of such annual leave, an employee may be granted a lump sum payment for annual leave time accrued, determined by multiplying the unused hours of annual leave time by the current hourly rate of pay.

Resignation and/or Retirement. 1. A person about to resign or about to retire and under the provisions of the state retirement act State Retirement Act or who is to be terminated laid off without fault on their in his part, and who has earned annual leave leave, may be granted annual leave for the time so earnedearned not to exceed four hundred thirty two hours (432). The Such annual leave must be taken prior to the effective date of any such resignation, retirement resignation or terminationlayoff; or, in lieu of such annual leave, leave an employee may be granted elect to receive a lump sum payment for annual leave time accrued, determined by multiplying the unused hours of annual leave time by the current hourly rate of payaccrued to his credit.

Resignation and/or Retirement. A person about to resign or about to retire under the provisions of the state retirement act State Retirement Act or who is to be terminated laid off without fault on their her/his part, and who has earned annual leave leave, may be granted annual leave for the time so earnedearned not to exceed the maximum for the classification. The Such annual leave must be taken prior to the effective date of any such resignation, retirement or terminationlayoff; or, in lieu of such annual leave, an employee may be granted a lump sum payment for annual leave time accrued, determined by multiplying the unused hours of annual leave time by the current hourly rate of payaccrued to her/his credit.

Resignation and/or Retirement. A person about to resign or about to retire under the provisions of the state retirement act State Retirement Act or who is to be terminated laid off without fault on their her/his part, and who has earned a annual leave leave, may be granted a annual leave for the time so earnedearned not to exceed the maximum for the classification. The Such annual leave must be taken prior to the effective date of any such resignation, retirement or terminationlayoff; or, in lieu of such annual leave, an employee may be granted a lump sum payment for annual leave time accrued, determined by multiplying the unused hours of annual leave time by the current hourly rate of payaccrued to her/his credit.