Sick Leave Buy Out. 7.3.7-1 Upon retirement from the teaching profession, a teacher who has served his district for a minimum of 15 years and has reached the age of 55, shall be entitled to compensation for unused sick days. This will be at a rate of fifty ($50.00) dollars per unused sick day, subject to the maximum accrual allowed in paragraph 7.3.1. The maximum liability to the Board per eligible teacher will not exceed $50 multiplied by the number of days in the teacher’s contract year. The benefit will be paid in three equal annual installments starting on the fifteenth of January of the year following retirement, or on a different schedule if mutually agreed upon by the Superintendent and teacher.
Appears in 4 contracts
Samples: Master Agreement, Master Agreement, Master Agreement
