Common use of Severance Pay on Retirement Clause in Contracts

Severance Pay on Retirement. A. All permanent Unit IV employees who separate employment (whether by resignation, termination, or retirement) shall be reimbursed for a maximum of the equivalent of fifty (50) annual leave days in accordance with their hourly rate at the time of their separation. It is the intent of AACPS that employees should not lose leave upon retirement. Accordingly, AACPS and the employee will work collaboratively to ensure leave is used. Unit IV employees should make every effort to use annual leave and principals will make every effort to allow employees to use annual leave subject to the needs of the school. B. A Unit IV employee who retires from service with AACPS in accordance with the provisions of the Maryland State Education/Employees Retirement and Pension System shall be paid forty-five dollars ($45) per day for all unused accumulated sick leave earned in AACPS. C. This provision shall also apply to any Unit IV employee who resigns after working fifteen (15) or more years with AACPS. D. If a Unit IV employee dies while in service the beneficiary designated with the retirement system shall receive the severance pay of forty-five dollars ( $45) per day for all unused accumulated sick leave earned in Xxxx Arundel County. E. For the purpose of reporting leave to the Maryland Retirement Systems, all applicable leave shall be converted back to days at the employee’s current number of daily hours. F. For the purpose of retirement, an audit of converted sick leave, may be requested by a bargaining unit member if the following apply: 1. The Unit IV employee changes job classifications/positions within three (3) years prior to retirement and such change resulted in an increase in the number of hours worked per day; and 2. The Unit IV employee has a sick leave balance equivalent to at least fifty (50) days. 3. The purpose of the audit will be to demonstrate to the Bargaining Unit Member how the conversion from hours to days was determined.

Severance Pay on Retirement. A. All permanent Unit IV employees who separate employment (whether by resignation, termination, or retirement) shall be reimbursed for a maximum of the equivalent of fifty (50) annual leave days in accordance with their hourly rate at the time of their separation. It is the intent of AACPS that employees should not lose leave upon retirement. Accordingly, AACPS and the employee will work collaboratively to ensure leave is used. Unit IV employees should make every effort to use annual leave and principals will make every effort to allow employees to use annual leave subject to the needs of the school. B. A Unit IV employee who retires from service with AACPS in accordance with the provisions of the Maryland State Education/Employees Retirement and Pension System shall be paid forty-five dollars ($45) per day for all unused accumulated sick leave earned in AACPS. C. This provision shall also apply to any Unit IV employee who resigns after working fifteen (15) or more years with AACPS. D. If a Unit IV employee dies while in service the beneficiary designated with the retirement system shall receive the severance pay of forty-five forty -five dollars ( $45) per day for all unused accumulated sick leave earned in Xxxx Arundel County. E. For the purpose of reporting leave to the Maryland Retirement Systems, all applicable leave shall be converted back to days at the employee’s current number of daily hours. F. For the purpose of retirement, an audit of converted sick leave, may be requested by a bargaining unit unti member if the following apply: 1. The Unit IV employee changes job classifications/positions within three (3) years prior to retirement and such change resulted in an increase in the number of hours worked per day; and 2. The Unit IV employee has a sick leave balance equivalent to at least fifty (50) days. 3. The purpose of the audit will be to demonstrate to the Bargaining Unit Member how the conversion from hours to days was determined.

Severance Pay on Retirement. A. All permanent Unit IV employees who separate employment (whether by resignation, termination, or retirement) shall be reimbursed for a maximum of the equivalent of fifty (50) annual leave days in accordance with their hourly rate at the time of their separation. It is the intent of AACPS that employees should not lose leave upon retirement. Accordingly, AACPS and the employee will work collaboratively to ensure leave is used. Unit IV employees should make every effort to use annual leave and principals will make every effort to allow employees to use annual leave subject to the needs of the school. B. A Unit IV employee who retires from service with AACPS in accordance with the provisions of the Maryland State Education/Employees Retirement and Pension System shall be paid forty-five dollars ($45) per day for all unused accumulated sick leave earned in AACPS. C. This provision shall also apply to any Unit IV employee who resigns after working fifteen (15) or more years with AACPS. D. If a Unit IV employee dies while in service the beneficiary designated with the retirement system shall receive the severance pay of forty-five forty -five dollars ( $45) per day for all unused accumulated sick leave earned in Xxxx Arundel County. E. For the purpose of reporting leave to the Maryland Retirement Systems, all applicable leave shall be converted back to days at the employee’s current number of daily hours. F. For the purpose of retirement, an audit of converted sick leave, may be requested by a bargaining unit member if the following apply: 1. The Unit IV employee changes job classifications/positions within three (3) years prior to retirement and such change resulted in an increase in the number of hours worked per day; and 2. The Unit IV employee has a sick leave balance equivalent to at least fifty (50) days. 3. The purpose of the audit will be to demonstrate to the Bargaining Unit Member how the conversion from hours to days was determined.