Common use of Retirement Pay Off Clause in Contracts

Retirement Pay Off. Upon retirement or death, an employee shall be paid his/her accumulated sick leave up to a maximum of five hundred (500) hours. In lieu of the cash out of sick leave, employees retiring may convert up to seven hundred fifty hours (750) of their accumulated sick leave to the purchase of individual only medical benefits under the County health plan.

Retirement Pay Off. Upon retirement or death, an employee shall be paid his/her accumulated sick leave up to a maximum of five hundred (500) hours. In lieu of the cash out of o f sick leave, employees retiring may convert up to seven hundred fifty hours (750) of their accumulated sick leave to the purchase of individual only medical benefits under the County health plan.

Retirement Pay Off. Upon retirement or death, an employee shall be paid his/her accumulated sick leave up to a maximum of five Vive hundred (500) hours. In lieu of the cash out of sick leave, employees retiring may convert up to seven hundred fifty Vifty hours (750) of their accumulated sick leave to the purchase of individual only medical benefits beneVits under the County health plan.