Retirement Allowance for Unused Sick Leave Sample Clauses

Retirement Allowance for Unused Sick Leave. All regularly scheduled employees who retire from the district, after at least ten (10) years of service, shall be entitled to an allowance of thirty-two ($32.00) dollars per day, subject to a maximum of one hundred forty (140) days (i.e., a maximum of $4,480.00). The payment will be made to the employee at the first regular pay period following retirement. Retirement allowance for unused sick leave shall only be paid if the employee meets the requirements for retirement benefits as defined in the Public School Employees’ Retirement System.
Sample 1
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Retirement Allowance for Unused Sick Leave. Employees who have been regularly scheduled to work for twelve (12) months per year and who retire from the district, after at least ten (10) years of service, shall be entitled to an allowance of twenty-eight ($28.00) dollars per day, subject to a maximum of one hundred forty (140) days (i.e., a maximum of $3,920.00). Employees who have been regularly scheduled to work less than twelve (12) months per year and retire from the district, after at least ten (10) years of service, shall be entitled to an allowance of twelve ($12.00) dollars per day, subject to a maximum of one hundred forty (140) days (i.e., a maximum of $1,680). The payment will be made to the employee at the first regular pay period following retirement. Retirement allowance for unused sick leave shall only be paid if the employee meets the requirements for retirement benefits as defined in the Public School Employees’ Retirement System.
Sample 1

Related to Retirement Allowance for Unused Sick Leave

  • Sick Leave Allowance Faculty with a full-time assignment shall accrue sick leave at the rate of eight

  • Unused Sick Leave The accrual of unused sick leave hours is unlimited. The City and the Union commit to the evaluation and establishment of a mutually beneficial non-use of sick leave incentive and pay-out policy. Until such time that a policy is established, accumulated sick leave shall be compensated as follows: Upon retirement from the City service, an employee shall be paid sixty percent (60%) of his accumulated sick leave, with the rate of payment based upon his regular pay at the time he retires. Upon the death of an employee, his beneficiary shall be paid sixty percent (60%) of his accumulated unused sick leave, with the payment based upon his regular pay at the date of his death.

  • Vacation Allowance Employees in permanent positions are entitled to vacation with pay. Accrual is based upon straight time hours of working time per calendar month of service and begins on the date of appointment to a permanent position. Increased accruals begin on the first of the month following the month in which the employee qualifies. Accrual for portions of a month shall be in minimum amounts of one (1) hour calculated on the same basis as for partial month compensation pursuant to Section 5.6 of this MOU. Vacation credits may be taken in one (1) minute increments but may not be taken during the first six (6) months of employment (not necessarily synonymous with probationary status) except where sick leave has been exhausted; and none shall be allowed in excess of actual accrual at the time vacation is taken.

  • Payment for Unused Sick Leave a. An employee with less than ten (10) years of continuous University service, as defined herein, who separates from the University shall not be paid for any unused sick leave. For employees appointed on or before 1/7/03 University service includes continuous employment by the University or the State of Florida.

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