Common use of Retirement Sick Leave Conversion Clause in Contracts

Retirement Sick Leave Conversion. Any Bargaining Unit employee who retires, after ten (10) years of continuous service, under the provisions of the P.E.R.S., or any other applicable plan of the State of Ohio or the county of Defiance, pursuant to the Ohio Revised Code 124.39B, will be compensated for accumulated, but unused, sick leave at the time of retirement in the following manner: A. One (1) day’s pay for every four (4) days of accumulated, but unused, sick leave on a maximum accumulation of one hundred twenty (120) hours. Maximum payment shall not exceed thirty (30) days times the employee’s daily base rate. An employee’s daily base rate or day’s pay shall be figured by dividing the employee’s annual base rate of pay, at the time of retirement by 2080 hours, and multiplying that base hourly rate figure by eight (8) hours. In case of death of an active employee after ten (10) years of continuous service, his accumulated sick leave will be paid in accordance with ORC 2113.04.

Retirement Sick Leave Conversion. Any Bargaining Unit employee who retires, after ten (10) years of continuous service, under the provisions of the P.E.R.S., or any other applicable plan of the State of Ohio or the county of Defiance, pursuant to the Ohio Revised Code 124.39B, will be compensated for accumulated, but unused, sick leave at the time of retirement in the following manner:manner:- A. One (1) day’s pay for every four (4) days of accumulated, but unused, sick leave on a maximum accumulation of one hundred twenty (120) hoursdays. Maximum payment shall not exceed thirty (30) days times the employee’s daily base rate. An employee’s “daily base rate rate” or “day’s pay pay” shall be figured by dividing the employee’s annual base rate of pay, at the time of retirement by 2080 hours, and multiplying that base hourly rate figure by eight (8) hours. In the case of death of an active employee after ten (10) years of continuous service, his accumulated sick leave will be paid in accordance with ORC 2113.04.