Common use of Retirement Bonus - PERS I: Clause in Contracts

Retirement Bonus - PERS I:. Upon retirement under the provisions of PERS I, an employee will receive in one (1) lump sum payment all their accrued but unused vacation up to a maximum of two hundred forty (240) hours, and twenty-five percent (25%) of their accrued but unused sick leave based on a maximum sick leave accumulation of nine hundred sixty (960) hours to the extent their twenty-five percent (25%) of sick leave exceeds forty-eight (48) hours. Any accrued vacation in excess of two hundred forty (240) hours and the first forty-eight (48) hours of the twenty-five percent (25%) sick leave payout shall be used by the employee prior to their retirement date. If the provisions of SHB 843 adopted in the 1984 legislative session and on which this section is based are repealed in their entirety, then the retirement bonus described in Section 3 of this Article shall apply equally to PERS I employees. In the provisions of SHB 843 are substantively amended or replaced, then the Employer and the Union shall reopen negotiations on this section at the request of either party.

Retirement Bonus - PERS I:. Upon retirement under the provisions of PERS I, an employee Employee will receive in one (1) lump sum payment all their accrued but unused vacation up to a maximum of two hundred forty (240) hours, and twenty-five percent (25%) of their accrued but unused sick leave based on a maximum sick leave accumulation of nine hundred sixty (960) hours to the extent their twenty-five percent (25%) of sick leave exceeds forty-eight (48) hours. Any accrued vacation in excess of two hundred forty (240) hours and the first forty-eight (48) hours of the twenty-five percent (25%) sick leave payout shall be used by the employee Employee prior to their retirement date. If the provisions of SHB 843 adopted in the 1984 legislative session and on which this section is based are repealed in their entirety, then the retirement bonus described in Section 3 of this Article shall apply equally to PERS I employeesEmployees. In If the provisions of SHB 843 are substantively amended or replaced, then the Employer City and the Union shall reopen negotiations on this section at the request of either party.