Retirement or Death Cash Out. As provided by RCW 28A.400.210, employees may cash out unused sick leave at the time of retirement or death. This cash out shall be administered in accordance with all applicable rules and regulations at the time the cash out is occurring. To qualify under the retirement provisions, the employee must be certified and qualified for retirement payments under an applicable state retirement system as certified by that retirement system. At the present time, this cash out system will provide the employee or the employee's estate compensation at a rate equal to one day's current monetary compensation of the employee for each four full day’s accrued sick leave. (Note: Some accrued sick leave can also be used to establish service credits for the retirement system. Sick leave cannot be used both to establish service credits and to receive a cash out.)
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
