Retirement Cash Out a. At the time of separation from the College due to retirement or death, each full-time faculty member or his/her estate will receive payment for unused Personal Leave at a rate of one (1) full day’s per diem pay for each four (4) full accumulated Personal Leave days; part-time faculty will receive payment for unused Personal Leave at a rate of one (1) hour’s pay for each four (4) hours of Personal Leave. For part-time faculty, the cash-out rate will be the hourly rate in effect at the time of the cash out. For purposes of this section, retirement means separation from the College after at least ten (10) years of employment at the College for employees who are at least fifty (50) years old.
b. In lieu of a cash payout for sick leave at retirement as provided in this Section, an employee will receive the amount of any such payout in the form of a contribution to a medical reimbursement plan if the employee is eligible to participate in such a plan at the time of his or her reimbursement. Election to participate in a medical expense plan will be determined in accord with the College’s plan.
Retirement Cash Out. The District shall offer the VEBA III Sick Leave Conversion Medical Reimbursement Plan, RCW 28A.400.210 and WAC 392.136, and agrees to make contributions to the Plan on behalf of eligible employees, based on the conversion value of sick leave days accrued and available to them at retirement. The Association shall notify the District of its intention to participate in VEBA III Plan, annually, prior to December 31 of each year.
Retirement Cash Out a. At the time of separation from the College due to retirement or death, each full-time faculty member or their estate will receive payment for unused Personal Leave at a rate of one (1) full day’s per diem pay for each twenty- eight (28) full accumulated Personal Leave hours; adjunct faculty will receive payment for unused Personal Leave at a rate of one (1) hour’s pay for each four (4) hours of Personal Leave. For adjunct faculty, the cash-out rate will be the hourly rate in effect at the time of the cash out. For purposes of this section, retirement means separation from the College after at least ten
Retirement Cash Out. (hired before 1-1-2007): Upon retirement or death, each employee hired before January 1, 2007 shall be paid one full days pay for each two days of earned an unused sick leave credits, based on a maximum accumulation of three hundred days, such payment is not to exceed the equivalent of one hundred and fifty days pay. Payment will be at the employee’s rate of pay at the time of retirement or death.
Retirement Cash Out. An employee who retires may elect to convert accumulated unused sick leave to monetary compensation at the rate of twenty-five (25) percent of the employee’s full-time daily rate of compensation at the time of termination for each full eight (8) hour day of sick leave up to a maximum of one hundred eighty (180) days (1,440 hours). To be eligible for this entitlement, the employee must inform the District of his/her decision to retire no later than April 1 of the school year in which he/she intends to retire. Exceptions to April 1 may be made by the Superintendent/designee for compelling circumstances. TRS/PERS/SERS Plan 2 and 3 employees who resign from the District before becoming eligible for an immediate annuity will be allowed to convert unused sick leave to monetary compensation as authorized by WAC 000-000-000 and appropriate negotiated labor agreements.
Retirement Cash Out. At the time of separation from employment with the District due to retirement or death, an eligible employee or the employee's estate shall receive remuneration at a rate equal to one (1) day's current compensation for the employee for each four (4) days accrued sick leave. No more than one hundred eighty (180) sick leave days shall be eligible for conversion as permitted by law.
10.3.1 Any accumulated sick leave up to a maximum of forty-five (45) days shall be creditable as service rendered for the purpose of determining retirement eligibility as provided through the State's Retirement System. Any additional credit for service rendered, authorized by state statute during the term of this Agreement, shall be awarded; provided there will be no cost to the District.
Retirement Cash Out. At the time of separation from the District due to retirement or death, each full-time faculty member or the employee's estate shall receive remuneration at a rate equal to one (1) day's per diem for each four (4) full day’s accumulated compensable personal leave. Each part-time faculty member or the employee's estate shall receive remuneration at a rate equal to one (1) hour's pay for each four (4) hours accumulated compensable personal leave. For part-time faculty, the cash-in rate will be equivalent to the per-hour rate in effect in the quarter of cash out. For purposes of this section only, retirement means separation from BCC after 10 years of employment at BCC for employees who are at least 50 years old.
