Retirement Sick Leave Sample Clauses

Retirement Sick Leave. Employees having sick leave to their credit shall after five (5) years of service and upon retirement due to age or illness receive 50% of said sick leave in salary, to a maximum of 125 days. Employees retiring due to age or illness after Five (5) years of service shall receive one (1) month’s salary for each Five (5) years of service or fraction thereof to a maximum of Six (6) month’s salary. Employees shall have the option of choosing either of the above options upon retirement due to age or illness.
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Retirement Sick Leave. Retirement Service Increment benefits for service to the District will be calculated according to the following schedule: • after 5 years service= 33-1/3% x substitute rate (not to exceed $100) x accumulated sick leave (to a maximum of 175 days) • after 10 years service= 50% x same formula • after 20 years service= 75% x same formula • after 25 years service= 87% x same formula • after 30 years service= 100% x same formula These formulae will be used to calculate a severance pay to be paid to the eligible employee retiring pursuant to Act 96 of 1975. If a teacher dies while employed by the District, a sum of money based on the above- stated formulae will be paid to the employee's designated beneficiary. Any employee forced to retire because of permanent disability will receive a sum of money based on the above-state formula.
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Retirement Sick Leave. Each employee shall be authorized to bank up to ninety (90) additional days of sick leave once they have accumulated the maximum number of sick days authorized under Article XX, Section 1. The additional sick leave may be used solely for the purpose of offsetting the cost of retirement health insurance. (1) The amount accumulated in the Sick Leave Bank for Retirement Premiums shall be held on deposit by the City for the purpose of paying the retiree’s COBRA health insurance premiums or alternative health insurance premiums after retirement and until such time as the retiree is eligible for Medicare. When the retiree is eligible for Medicare, any remaining balance of the Sick Leave Bank for Retirement Insurance Premiums shall be forfeited to the City. (2) The City shall reimburse the retiree for health insurance premiums paid prior to reaching Medicare eligibility only after the retiree submits proof of payment of the premium. Proof of payment shall be submitted not more than 60 days after the payment by the retiree. The City shall reimburse the retiree within 30 days of receiving proof of payment.” (3) Not less than 30 days prior to an employee’s retirement, the City shall inform the employee in writing of any insurance and other benefits that the retiree may be entitled to in retirement. For purposes of this Agreement, any time the term “retirement” is used herein it shall mean an act whereby an employee voluntarily leaves the employment of the City and begins to collect retirement benefits under the Illinois Municipal Retirement Fund (IMRF) as said employee may so qualify from time to time under the rules and requirements of IMRF.
Sample 1
Retirement Sick Leave. 1. Upon retirement only, a secretarial/ clerical employee shall be entitled to be paid $25.00 per day for any accumulated sick leave days, to a maximum of $6,000. For the 2005-06 school year, the daily rate shall increase to $35.00. For the 2006-07 school year, the daily rate shall be $30.00. The maximum payment shall remain at $6,000 for all years. Upon retirement only, a teacher shall be entitled to be paid $50.00 per day for any accumulated sick leave days, to a maximum of $12,000. For the 2005-06 school year, the daily rate shall increase to $60.00. For the 2006-07 school year, the daily rate shall be $55.00. The maximum payment shall remain at $12,000 for all years. Notification for retirement must be submitted to the Board of Education on or before December 1 of the school year prior to the date of retirement, so the funds can be budgeted and paid during the school year of retirement, or payment shall be deferred until July of the following school year.
Sample 1
Retirement Sick Leave. 1. Upon retirement only, a secretarial/ clerical employee shall be entitled to be paid $30.00 per day for any accumulated sick leave days, to a maximum of $6,000. Upon retirement only, a teacher shall be entitled to be paid $55.00 per day for any accumulated sick leave days, to a maximum of $12,000. Notification for retirement must be submitted to the Board of Education on or before December 1 of the school year prior to the date of retirement, so the funds can be budgeted and paid during the school year of retirement, or payment shall be deferred until July of the following school year.
Sample 1
Retirement Sick Leave. 1. Upon retirement only, a secretarial/ clerical employee shall be entitled to be paid $30.00 per day for any accumulated sick leave days, to a maximum of $6,000. Upon retirement only, a teacher shall be entitled to be paid $55.00 per day for any accumulated sick leave days, to a maximum of $12,000. Notification for retirement must be submitted to the Board of Education on or before December 1 of the school year prior to the date of retirement, so the funds can be budgeted and paid during the school year of retirement, or payment shall be deferred until July of the following school year. 2. For the period of July 1, 2011 through the June 30, 2012, upon retirement only, a secretarial/clerical employee shall be entitled to be paid $40.00 per day for any accumulated sick leave days, to a maximum of $7,500. Upon retirement only, a teacher shall be entitled to be paid $75.00 per day for any accumulated sick leave days, to a maximum of $15,000. Notification for retirement must be submitted to the Board of Education on or before December 1 of the school year prior to the date of retirement, so the funds can be budgeted and paid during the school year of retirement, or payment shall be deferred until July of the following school year.
Sample 1
Retirement Sick Leave. A. At the time of retirement, any full-time employee retiring pursuant to Act 96 of 1975 who has accumulated sick leave shall be compensated according to the calculation set forth below: The number of unused accrued sick leave hours (to a maximum of 100 days) multiplied by the applicable hourly rate of normal compensation multiplied by the percentage based on years of service determined below: 5 years of service 33 1/3% 10 years of service 50% 20 years of service 75% 30 years of service 100% B. At the time of retirement, any employee retiring pursuant to Act 96 of 1975 not classified as full-time shall receive a prorated gross compensation for a part- time employee which shall be calculated as follows: Perform the calculation in Section I to determine the compensation for a corresponding full-time employee then multiply that amount by the part-time employee ratio. The part-time employee ratio is calculated by multiplying the number of days worked per year by the number of hours worked per day divided by 1,820 hours. C. The employee shall have the option to receive a check for the full amount or of having the benefits deposited into a 403(b)(7) account on behalf, and in the name of the employee, subject to withholding deductions as determined by the Internal Revenue Service Code.
Sample 1
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Retirement Sick Leave. Each employee shall be authorized to bank up to ninety (90) additional days of sick leave once they have accumulated the maximum number of sick days authorized under Article XX, Section 1. The additional sick leave may be used solely for the purpose of offsetting the cost of retirement health insurance.
Sample 1

Related to Retirement Sick Leave

  • Sick Leave Benefits Sick leave is an indemnity benefit and not an acquired right. A Nurse who is absent from a scheduled shift on approved sick leave shall only be entitled to sick leave pay if the Nurse is not otherwise receiving pay for that day, and providing the Nurse has sufficient sick leave credits.

  • Sick Leave 21.01 Sick leave shall be defined as an absence with pay necessitated by: 1) illness or injury to the employee; 2) exposure by the employee to a contagious disease communicable to other employees; and/or 3) serious injury, illness or death in the employee's immediate family. 21.02 All full-time employees shall earn sick leave at the rate of four and six-tenths (4.6) hours for every eighty (80) hours worked, excluding overtime, and may accumulate such sick leave hours to an unlimited amount. 21.03 An employee who is to be absent on sick leave shall notify the supervisor of such absence and the reason therefor at least one-half (1/2) hour before the start of his work shift each day he is to be absent, when possible. 21.04 Sick leave may be used in segments of not less than one (1) hour. 21.05 The Department Head may require such proof of illness, injury or death as may be satisfactory to him, (e.g., obituary notice from a newspaper) or may require the employee to be examined by a physician designated by the Department Head and paid by the Employer. In the event, an employee absent for more than three (3) consecutive days must supply a physician's report to be eligible for paid sick leave. Such requirement shall not be imposed in an arbitrary or capricious manner. 21.06 If the employee fails to submit adequate proof of illness, injury or death upon request, or in the event that upon such proof as is submitted or upon the report of medical examination, the Department Head finds there is not satisfactory evidence of illness, injury or death sufficient to justify the employee's absence, such leave may be considered an unauthorized leave and shall be without pay. 21.07 Any abuse of sick leave or the patterned use of sick leave shall be just and sufficient cause for discipline as may be determined by the Department Head. 21.08 The Department Head may require an employee who has been absent due to personal illness or injury, prior to and as a condition of his return to duty, to be examined, by a physician designated and paid by the Employer, to establish that he is not disabled from the performance of his normal duties and that his return to duty will not jeopardize the health and safety of other employees. 21.09 When the use of sick leave is due to serious illness or injury in the immediate family, "immediate family" shall be defined to only include the employee's spouse and children unless the employee has no spouse in which case the employee's parents shall be included in the immediate family. When the use of sick leave is due to death in the immediate family, "immediate family" shall be defined to only include the employees parents, spouse, child, brother, sister, grandparents, parents-in-law, brother-in-law and sister-in-law, aunts and uncles. 21.10 An employee who transfers from this Department to another Department of the Employer, shall be allowed to transfer his accumulated sick leave to the new Department, providing that his amount or accumulated sick leave shall not exceed the accumulation limit in effect in his new Department. 21.11 Each employee who has accumulated in excess of nine hundred (900) hours sick leave and has not used all the sick leave hours accumulated since December 31" of the previous year may receive payment for the unused sick leave accumulated during that year to the ratio of one (1) hour of pay for each three (3) sick leave hours (one-third of sick leave accrual for that year) and one (1) hour for each three (3) sick leave hours (one-third of sick leave accrual for that year) will be added to the employee's total accumulated sick leave. The eligible employee who has met the threshold amount of sick leave accumulation may, at his option, elect not to take the cash option but may continue to accumulate two-third (2/3) of his accrued sick leave for that calendar year. One-third of the annual unused sick leave shall be forfeited to the City each year upon accrual of the threshold amount The option to cash out one-third time or to accumulate two-thirds (2/3) must be made immediately after December 31st . Employees who opt for the cash conversion of sick leave will be paid in the first pay period in February at the prior year's rate of pay. Upon retirement of a full-time employee who has not less than ten (10) years of continuous service with the Employer and is eligible to receive payments from a state pension plan, the employee shall be entitled to receive a cash payment equal to his rate of pay at the time of retirement multiplied by one-half (1/2) the total number of accumulated and unused sick leave hours, earned by the employee as certified by the Finance Director, providing that such resulting number of hours to be paid shall not exceed six hundred fifty (650) sick leave hours. 21.12 An employee shall be granted time off with pay without deduction from any sick leave for the purposes of attending the funeral of a member of the employee's immediate family. The employee shall be entitled to a maximum of three (3) days off for each death in the immediate family. For the purposes of this article, "immediate family" shall be defined to only include the employee's spouse, children, parents, brothers, sisters, parents-in-law or person in loco parentis. 21.13 Funeral leave may be extended upon approval, with the use of holidays, vacation days, sick days or compensatory days. 21.14 When an employee is unable to work due to a serious illness or injury and has used all available accumulated leave, the City may permit any other bargaining unit member(s), who has (have) a minimum of 400 hours of sick leave, at that employee's discretion, to transfer their accumulated sick leave up to eighty (80) hours and/or bonus sick leave from their own account to that of the employee without any accumulated leave. Such transfers shall not count as sick leave usage of the employee donating the leave for purposes of this Agreement.

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

  • Sick Leave Payout No cash payment for unused sick leave will be paid to any employee leaving the service of the Employer.

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