Common use of Retirement Terminations Clause in Contracts

Retirement Terminations. a. An employee who retires is entitled to cash compensation at their then current hourly rate to a maximum of nine hundred (900) hours of accrued paid leave. Employees who retire under PERS prior to age 58 shall receive cash compensation for one hundred percent (100%) of the first 300 hours of accrued paid leave, with the remainder of any accrued paid leave reduced by eight percent (8%) for each year earlier than age 58, with the exception that of a PERS General Service Employee who retires with thirty (30) years of service. b. In case of death or permanent disability, compensation for all accrued Paid Leave hours shall be paid to the employee or their heirs. c. All compensation received by employees due to retirement shall be included as PERS subject compensation, if permitted by PERS.

Retirement Terminations. a. An employee who retires is entitled to cash compensation at their then current hourly rate to a maximum of nine hundred (900) 900 hours of accrued paid leave. Employees who retire under PERS prior to age 58 shall receive cash compensation for one hundred percent (100%) percent of the first 300 hours of accrued paid leave, with the remainder of any accrued paid leave reduced by eight (8) percent (8%) for each year earlier than age 58, with the exception that of a PERS General Service Employee who retires with thirty (30) years of service. b. In case of death or permanent disability, compensation for all accrued Paid Leave hours shall be paid to the employee or their heirs. c. All compensation received by employees due to retirement shall be included as PERS subject compensation, if permitted by PERS.

Retirement Terminations. a. An employee who retires is entitled to cash compensation at their then current hourly rate to a maximum of nine hundred (900) hours of accrued paid leave. Employees who retire under PERS prior to age 58 shall receive cash compensation for one hundred percent (100%) of the first 300 hours of accrued paid leave, with the remainder of any accrued paid leave reduced by eight percent (8%) for 8%)for each year earlier than age 58, with the exception that of a PERS General Service Employee who retires with thirty (30) years of service. b. In case of death or permanent disability, compensation for all accrued Paid Leave hours shall be paid to the employee or their heirs. c. All compensation received by employees due to retirement shall be included as PERS subject compensation, if permitted by PERS.