SICK ALLOWANCE BALANCE Sample Clauses

SICK ALLOWANCE BALANCE. ON RETIREMENT 13 Employees who became members of the Employees Retirement System shall 14 receive full payment for all accrued sick allowance hours earned before February 15 21, 2006 at the time the employee retires. Twenty-five percent (25.0%) of any 16 remaining accrued sick allowance hours earned on and after February 21, 2006 shall 17 be paid out at the employee’s final hourly rate of pay. For calculation purposes, 18 sick leave earned before February 21, 2006 shall be used prior to sick leave earned 19 on and after February 21, 2006 for all hours of sick leave used prior to retirement. 20 Such payment shall be made in a lump sum, and shall not be included in the 21 calculation of the employee’s final average salary for pension calculation purposes. 22 Nor shall pension service credit be granted in connection with the lump sum 24 permissible under IRS provisions, such payment shall be placed in a “back drop
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SICK ALLOWANCE BALANCE. ON RETIREMENT 2 Employees who became members of the Employees Retirement System shall 3 receive full payment for all accrued sick allowance hours earned before February 4 21, 2006 at the time the employee retires. Twenty-five percent (25.0%) of any 5 remaining accrued sick allowance hours earned on and after February 21, 2006 shall 6 be paid out at the employee’s final hourly rate of pay. For calculation purposes, 7 sick leave earned before February 21, 2006 shall be used prior to sick leave earned 8 on and after February 21, 2006 for all hours of sick leave used prior to retirement. 9 Such payment shall be made in a lump sum, and shall not be included in the 10 calculation of the employee’s final average salary for pension calculation purposes. 11 Nor shall pension service credit be granted in connection with the lump sum 12 payment. The payment shall have no effect on the employee’s retirement date. If 13 permissible under IRS provisions, such payment shall be placed in a “back drop 14 account” in the Employees Retirement System. The provisions of this section shall 15 not apply to a member of the System who is eligible for a deferred retirement 16 benefit under section 4.5 of 201.24 of the Employees’ Retirement System.

Related to SICK ALLOWANCE BALANCE

  • Vacation Allowance Employees in permanent positions are entitled to vacation with pay. Accrual is based upon straight time hours of working time per calendar month of service and begins on the date of appointment to a permanent position. Increased accruals begin on the first of the month following the month in which the employee qualifies. Accrual for portions of a month shall be in minimum amounts of one (1) hour calculated on the same basis as for partial month compensation pursuant to Section 5.6 of this MOU. Vacation credits may be taken in one (1) minute increments but may not be taken during the first six (6) months of employment (not necessarily synonymous with probationary status) except where sick leave has been exhausted; and none shall be allowed in excess of actual accrual at the time vacation is taken.

  • Over-Allowance Amount On the Cost Proposal Delivery Date and, in any event, prior to the commencement of the construction of the Tenant Improvements, Tenant shall deliver to Landlord cash in an amount (the “Over-Allowance Amount”) equal to the difference between (i) the amount of the Cost Proposal and (ii) the amount of the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the Cost Proposal Delivery Date). The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. If, after the Cost Proposal Date, any revisions, changes, or substitutions shall be made to the Construction Drawings or the Tenant Improvements as a result of requests made by Tenant or as otherwise specified in Section 5.01(h) below, any additional costs which arise in connection with such revisions, changes or substitutions shall be paid by Tenant to Landlord immediately upon Landlord’s request as an addition to the Over-Allowance Amount and, in any event, prior to the commencement of the construction of the revisions, changes or substitutions. Promptly following completion of construction of the Tenant Improvements and payment of all costs incurred in connection therewith, Landlord shall prepare and deliver to Tenant a reasonably detailed reconciliation of (i) the total cost of the Tenant Improvements, including all Tenant Improvement Allowance Items, and (ii) the total amount of the Tenant Improvement Allowance and the Over-Allowance Amount payments previously made by Tenant pursuant to the foregoing provisions of this Section. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements exceeds the amount of the Tenant Improvement Allowance plus all Over-Allowance Amount previously paid by Tenant, Tenant shall pay the amount of such shortfall to Landlord within thirty (30) days after receipt of such reconciliation. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements is less than the amount of the Tenant Improvement Allowance plus all Over-Allowance Amounts previously paid by Tenant, Landlord shall pay the amount of such overage to Tenant at the time that Landlord delivers such reconciliation to Tenant.

  • Shift Allowance In addition to the wage specified in sub-clause (1), read with sub- clause (12), a normal shift worker shall, in respect of his shift hours worked in any week, be paid an additional 12,5% on such wage.

  • Annual Allowance The Corporation shall pay to the Executive, in cash, in a lump sum, on the Payment Date an amount equal to two times the annual allowance to which the Executive is entitled as of the date of the Date of Termination (or, if higher, as of immediately prior to the Effective Date).

  • Sick Leave Allowance Faculty with a full-time assignment shall accrue sick leave at the rate of eight

  • Relocation Allowance An employee who is promoted and required by agency policy to relocate his residence shall be granted time off with pay for one workday for this purpose. In addition, the employee shall be granted travel time to the new location based on the most direct route. No employee will be credited with more than the number of hours in the employee’s regular workday and such time shall not be counted as hours worked for the purpose of computing compensatory time or overtime.

  • Education Allowance Provisions in existing Collective Agreements providing for educational allowances shall be continued in effect.

  • Retirement Allowance Prior to issuing notice of layoff pursuant to article 9.08(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 9.08(a)(ii). An employee who elects an early retirement option shall receive, following completion of the last day of work, a retirement allowance of two weeks' salary for each year of service, plus a prorated amount for any additional partial year of service, to a maximum ceiling of 26 weeks' salary, and, in addition, full-time employees shall receive a single lump-sum payment equivalent to $1,000 for each year less than age 65 to a maximum of $5,000 upon retirement."

  • Car Allowance The Company shall provide the Executive an automobile allowance of $750 per month during the term of Executive’s employment hereunder.

  • Meal Allowance A shift worker who works a qualifying shift of eight hours or the rostered shift, whichever is the greater, and who is required to work more than one hour beyond the end of the shift (excluding any break for a meal) shall be paid a meal allowance of $7.95, or, at the option of the employer, be provided with a meal.

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