Sick Leave Buy Out. An employee who has seven (7) employment years or more of service with the College may elect at the time of retirement from active service under the Retirement System Law (SERS/STRS) to be paid in cash for one-fourth (1/4) of the value of his/her accrued but unused sick leave credit. Such payment shall be considered to eliminate all sick leave credit accrued at that time. The maximum payment which may be made under this provision shall be one-fourth (1/4) of two hundred (200) days.
Appears in 4 contracts
Samples: Professional Unit Agreement, Professional Unit Agreement, Professional Unit Agreement
Sick Leave Buy Out. An employee who has seven (7) employment years or more of service with the College may elect at the time of retirement from active service under the Retirement System Law (SERS/STRS) to be paid in cash for one-fourth (1/4) of the value of his/her accrued but unused sick leave credit. Such payment shall be considered to eliminate all sick leave credit accrued at that time. The maximum payment which may be made under this provision shall be one-fourth (1/4) of two hundred (200) 200 days).
Appears in 3 contracts
Samples: Support Staff Agreement, Support Staff Agreement, Support Staff Agreement
Sick Leave Buy Out. An employee who has seven (7) employment years or more of service with the College may elect at the time of retirement from active service under the Retirement System Law (SERS/STRS) to be paid in cash for one-fourth (1/4) of the value of his/her accrued but unused sick leave credit. Such payment shall be considered to eliminate all sick leave credit accrued at that time. The maximum payment which may be made under this provision shall be one-fourth (1/4) of two hundred (200) days1600 hours.
Appears in 2 contracts
Samples: Full Time Police Officers’ and Police Sergeants’ Agreement, Full Time Police Officers’ and Police Sergeants’ Agreement
