Common use of RETIREMENT PAYOUT Clause in Contracts

RETIREMENT PAYOUT. Upon resignation for the purposes of retirement and when a regular employee has fulfilled the retirement requirements under the Municipal Pension Plan said employee shall be paid the cash equivalent to his/her accumulated sick leave up to a maximum of sixty (60) days. The cash equivalent shall be at the rate of pay in effect immediately prior to retirement.

RETIREMENT PAYOUT. Upon resignation for the purposes of retirement and when a regular employee has fulfilled the retirement requirements under the Municipal Pension Plan Plan. said employee shall be paid the cash equivalent to his/her accumulated sick leave up to a maximum of sixty (60) days. The cash equivalent shall be at the rate of pay in effect immediately prior to retirement.

RETIREMENT PAYOUT. Upon resignation for the purposes of retirement and when a regular employee has fulfilled the retirement requirements under the Municipal Pension Plan Plan, said employee shall be paid the cash equivalent to his/her their accumulated sick leave up to a maximum of sixty (60) days. The cash equivalent shall be at the rate of pay in effect immediately prior to retirement.

RETIREMENT PAYOUT. ‌ Upon resignation for the purposes of retirement and when a regular employee has fulfilled the retirement requirements under the Municipal Pension Plan Plan, said employee shall be paid the cash equivalent to his/her their accumulated sick leave up to a maximum of sixty (60) days. The cash equivalent shall be at the rate of pay in effect immediately prior to retirement.