SEPARATION AND SEVERANCE PAY Sample Clauses

SEPARATION AND SEVERANCE PAY. 1.1 The Board will pay retiring employees who are eligible under the provisions of S.E.R.S. to retire using the following formula: Up to thirty (30) days of accumulated sick leave by the employee’s per diem rate at the time of retirement, plus where applicable, one-quarter (1/4) of the accumulated sick leave days in excess of 120 days by the same rate. Maximum allowable days total: 60 days.
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SEPARATION AND SEVERANCE PAY. Section 1. Separation from the service of the Employer may result from voluntary resignation of the Employee.
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SEPARATION AND SEVERANCE PAY. A. Separation from the service of the Borough may result from voluntary resignation of the employee, or by the termination of his services after review and approval by the Borough Administrator.
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SEPARATION AND SEVERANCE PAY. SECTION 1. EMPLOYEES WHO RESIGN SHALL TENDER THEIR RESIGNATION IN WRITING, AT LEAST TWO WEEKS PRIOR TO THE EFFECTIVE DATE OF THE RESIGNATION, IN ORDER TO PROVIDE SUFFICIENT TIME FOR HIRING AND BREAKING IN THE SUCCESSOR. SECTION 2. ALL EMPLOYEES WILL, WHEN LEAVING THE SERVICE OF THE BOROUGH, COMPLETE AND SIGN THE "TERMINATION OF EMPLOYMENT RECEIPT" WHEN RECEIVING THEIR FINAL COMPENSATION. THIS RECEIPT WILL BE FILED IN THE EMPLOYEE'S PERSONNEL HISTORY FILE, AS EVIDENCE OF THE SATISFACTION OF ALL CLAIMS AGAINST THE BOROUGH.
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SEPARATION AND SEVERANCE PAY. A. Upon Involuntary Separation occurring during any term of the Agreement, the Employee shall be entitled to a lump-sum severance payment:
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SEPARATION AND SEVERANCE PAY. 17 17 FULLY BARGAINED PROVISIONS . . . . . . . 18 18 TRANSFERS . . . . . . . . . . . . . . . 18
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Related to SEPARATION AND SEVERANCE PAY

  • Severance Pay 4.4.2(a) Severance pay - other than employees of a small employer An employee, other than an employee of a small employer, whose employment is terminated by reason of redundancy is entitled to the following amount of severance pay in respect of a period of continuous service: Period of continuous service Severance pay Less than 1 year Nil 1 year and less than 2 years 4 weeks’ pay* 2 years and less than 3 years 6 weeks’ pay 3 years and less than 4 years 7 weeks’ pay 4 years and less than 5 yeas 8 weeks’ pay 5 years and less than 6 years 10 weeks’ pay 6 years and less than 7 years 11 weeks’ pay 7 years and less than 8 years 13 weeks’ pay 8 years and less than 9 years 14 weeks’ pay 9 years and less than 10 years 16 weeks’ pay 10 years and over 12 weeks’ pay * Week’s pay is defined in 4.4.1.

  • Retirement Severance 33.01 Schedule for severance/retirement pay: Retirement/Severance Pay for PTO* Percent of days' wages at an hourly rate (no shift premium) Years of service 1st thru 20th day of accumulated PTO 21st thru 50th day of accumulated PTO 51st thru 90th day of accumulated PTO 91st day and above of accumulated PTO 5 or more 10% 15% 20% 25% 11 or more 15% 20% 25% 30% 12 or more 20% 25% 30% 35% 13 or more 25% 30% 35% 40% 14 or more 30% 35% 40% 45% 15 or more 35% 40% 45% 50% 20 or more 40% 45% 50% 55% Example: Employee has 27 days of PTO and has worked for L’Anse Creuse Pubic Schools 14 years will be paid out at the rate of 35% of their current daily rate for each of the 27 days.

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