Sick Day Buyback. The District will “buy back” at a rate of $25 per day up to 90 accumulated sick days from Teachers 50 years or older who are retiring from the profession.
Sick Day Buyback. 11.2.1 Upon retirement, a teacher age sixty (60) and over with twenty (20) or more years of continuous service to the District shall receive the equivalent of his/her daily rate of compensation (last salary/185) for each sick day left in that individual’s sick day account.
Sick Day Buyback. The Employer will compensate the Employee for 50% of accrued sick time upon resignation, retirement or involuntary layoff, provided the Employee has a minimum of ten years of service. Upon retirement an Employee may donate up to twenty-five percent of his/her accrued sick leave to the sick leave bank.
Sick Day Buyback. The Town will compensate the Employee for 50% of accrued sick leave upon resignation and/or retirement, provided the Employee has a minimum of ten years of service.
Sick Day Buyback. In addition, all sick leave days accumulated by a retiring individual prior to his/her final year of employment will be reimbursed at the rates listed below. This amount will also be added to the final year's salary and shall be payable in equal installments over the final school year. At the point of retirement, if an employee’s total number of accumulated sick days falls within one of the ranges listed below, they will receive the corresponding amount of money for each and all of their accumulated sick days. Days 1-99: $15 (Max of $1,485) Days 100-149: $25 (Max of $3,725) Days 150-189: $40 (Max of $6,615) Days 190-210: $55 (Max of $11,550) Increase the cap to 210 days. The maximum sick day buyback is $11,550. This cap applies to all bargaining unit members. If a member of Unit D, E & H hired after July 1, 2020, at the point of retirement has a total number of accumulated sick days falls within one of the ranges listed below, they will receive the corresponding amount of money for each and all of their accumulated sick days. Days 1-99: $15 (Max of $1,485) Days 100-149: $20 (Max of $2,980) Days 150-189: $25 (Max of $4,725) Days 190-210: $30 (Max of $6,300)
