Common use of Sick Leave Buyback Clause in Contracts

Sick Leave Buyback. ‌ Employees, excluding those hired after July 1, 2012, may at the employee’s option, be compensated annually for a portion of unused sick leave. Xxxx leave compensation will be based upon the amount of accrued sick leave during the calendar year. Such compensation will be paid in February prior to the fifteenth (15th) day of the month according to the following schedule: Xxxx Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 192 hours No compensation 192 – 383 hours 12½% of salary of sick days earned and not used during prior year 384 – 479 hours 25% of salary of sick days earned and not used during prior year 480 hours and over 50% of salary of sick days earned and not used during prior year All employees hired after July 1, 2012 will not have the option but rather will be required to be compensated annually for a portion of unused sick leave. The employees shall be compensated according to the following schedule: Xxxx Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 480 hours No Compensation 480 hours to 959 hours 25% of sick hours earned and not used during prior year (remaining unused hours are carried over and retained.) 960 or more hours 50% of sick hours earned and not used during prior year (remaining unused hours are not carried over and therefore lost.) If an employee terminates employment with the Village prior to receiving unused sick leave compensation, such compensation will be paid on the last paycheck, pro-rated according to the schedule herein, provided the proper two (2) weeks written notice is given. Employees who do not exercise the option to receive annual compensation for accrued sick leave shall carry over and maintain said sick leave from year to year. Upon retirement, those employees hired before July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one half (½) of their accumulated sick leave as monetary compensation in an amount not to exceed 720 hours. Upon retirement, those employees hired after July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one-half (½) of their accumulated sick leave as monetary compensation in an amount not to exceed 480 hours. Employees hired after July 1, 2012 and retiring into IMRF shall receive the sick leave as monetary compensation two months following retirement so that the sick leave payment will not be included in the final rate of earnings for pension purposes. This benefit shall not be available to individuals retiring on a disability pension.

Sick Leave Buyback. ‌ Employees, excluding those hired after July 1, 2012, may at the employee’s option, Employees shall be compensated annually for a portion of unused sick leave. Xxxx Sick leave compensation will be based upon the amount of accrued sick leave during the calendar year. Such compensation will be paid in February prior to the fifteenth (15th) day of the month according to the following scheduleschedule for employees with a date of hire before January 1, 2013: Xxxx Sick Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 192 480 hours No compensation 192 – 383 hours 12½% of salary of sick days earned and not used during prior year 384 – 479 hours 25% of salary of sick days earned and not used during prior year compensation. 480 hours and over up to 959 hours 50% of salary of sick days earned and not used during prior year All employees hired after July year. 960 hour Cap 100% of salary of sick days earned and not used during prior year. Employees with a date of hire of January 1, 2012 will not have the option but rather will be required to be compensated annually for a portion of unused sick leave. The employees 2013 or later shall be compensated paid according to the following schedule: Xxxx Sick Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 480 hours No Compensation 480 hours to 959 hours 25% of sick hours earned and not used during prior year (remaining unused hours are carried over and retained.) 960 or more hours 50% of sick hours earned and not used during prior year (remaining unused hours are not carried over and therefore lost.) If an employee terminates employment with the Village prior to receiving unused sick leave compensation, such compensation will be paid on the last paycheck, pro-rated according to the schedule herein, provided the proper two (2) weeks written notice is given. Employees who do not exercise the option to receive annual compensation for accrued sick leave shall carry over and maintain said sick leave from year to year. Upon retirement, those employees hired before July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one half (½) of their accumulated sick leave as monetary compensation in an amount not to exceed 720 hours. Upon retirement, those employees hired after July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one-half (½) of their accumulated sick leave as monetary compensation in an amount not up to exceed 480 a maximum of nine hundred and sixty (960) hours. Employees hired after July 1For example, 2012 an employee retiring with the maximum of nine hundred and retiring into IMRF shall receive the sixty (960) hours of accumulated sick leave as monetary may receive compensation two months following retirement so that the sick leave payment will not be included in the final rate of earnings for pension purposesno more than four hundred and eighty (480) hours. This benefit benefit, however, shall not be available to individuals retiring on a disability pension. Employees with more than nine hundred and sixty (960) hours of accumulated sick leave as of January 1, 2009 will have their personal cap locked as of that date to the amount of sick leave accrued. They shall continue to be compensated pursuant to the buy back schedule above and retain all accrued sick leave over the nine hundred and sixty (960) hours until used in accordance with the provisions of this agreement. Upon retirement they shall be compensated in the manner proscribed above to a maximum of up to one-half (½) of their accumulated sick leave up to the maximum cap of nine hundred and sixty (960) hours.

Sick Leave Buyback. ‌ Employees, excluding those hired after July 1, 2012, may at the employee’s option, Employees shall be compensated annually for a portion of unused sick leave. Xxxx leave compensation will be based upon the amount of accrued sick leave during the calendar year. Such compensation will be paid in February prior to the fifteenth (15th) day of the month according to the following scheduleschedule for employees with a hire date before January 1, 2013: Xxxx Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 192 480 hours No compensation 192 – 383 hours 12½% of salary of sick days earned and not used during prior year 384 – 479 hours 25% of salary of sick days earned and not used during prior year compensation. 480 hours and over up to 959 hours 50% of salary of sick days earned and not used during prior year All employees hired after July year. 960-hour Cap 100% of salary of sick days earned and not used during prior year. Employees with a date of hire of January 1, 2012 will not have the option but rather will be required to be compensated annually for a portion of unused sick leave. The employees 2013 or later shall be compensated paid according to the following schedule: Xxxx Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 480 hours No Compensation 480 hours to 959 hours 25% of sick hours earned and not used during prior year (remaining unused hours are carried over and retained.) 960 or more hours 50% of sick hours earned and not used during prior year (remaining unused hours are not carried over and therefore lost.) If an employee terminates employment with the Village prior to receiving unused sick leave compensation, such compensation will be paid on the last paycheck, pro-rated according to the schedule herein, provided the proper two (2) weeks written notice is given. Employees who do not exercise the option to receive annual compensation for accrued sick leave shall carry over and maintain said sick leave from year to year. Upon retirement, those employees hired before July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one half (½) of their accumulated sick leave as monetary compensation in an amount not to exceed 720 hours. Upon retirement, those employees hired after July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one-half (½) of their accumulated sick leave as monetary compensation in an amount not up to exceed 480 a maximum of nine hundred and sixty (960) hours. Employees hired after July 1For example, 2012 an employee retiring with the maximum of nine hundred and retiring into IMRF shall receive the sixty (960) hours of accumulated sick leave as monetary may receive compensation two months following retirement so that the sick leave payment will not be included in the final rate of earnings for pension purposesno more than four hundred and eighty (480) hours. This benefit benefit, however, shall not be available to individuals retiring on a disability pension. Employees with more than nine hundred and sixty (960) hours of accumulated sick leave as of January 1, 2009 will have their personal cap locked as of that date to the amount of sick leave accrued. They shall continue to be compensated pursuant to the buy-back schedule above and retain all accrued sick leave over the nine hundred and sixty (960) hours until used in accordance with the provisions of this agreement. Upon retirement they shall be compensated in the manner proscribed above to a maximum of up to one-half (½) of their accumulated sick leave up to the maximum cap of nine hundred and sixty (960) hours.

Sick Leave Buyback. ‌ Employees, excluding those hired after July 1, 2012, may at the employee’s option, Employees shall be compensated annually for a portion of unused sick leave. Xxxx Sick leave compensation will be based upon the amount of accrued sick leave during the calendar year. Such compensation will be paid in February prior to the fifteenth (15th) day of the month according to the following scheduleschedule for employees with a hire date before January 1, 2013: Xxxx Sick Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 192 480 hours No compensation 192 – 383 hours 12½% of salary of sick days earned and not used during prior year 384 – 479 hours 25% of salary of sick days earned and not used during prior year compensation. 480 hours and over up to 959 hours 50% of salary of sick days earned and not used during prior year All employees hired after July year. 960-hour Cap 100% of salary of sick days earned and not used during prior year. Employees with a date of hire of January 1, 2012 will not have the option but rather will be required to be compensated annually for a portion of unused sick leave. The employees 2013 or later shall be compensated paid according to the following schedule: Xxxx Sick Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 480 hours No Compensation 480 hours to 959 hours 25% of sick hours earned and not used during prior year (remaining unused hours are carried over and retained.) 960 or more hours 50% of sick hours earned and not used during prior year (remaining unused hours are not carried over and therefore lost.) If an employee terminates employment with the Village prior to receiving unused sick leave compensation, such compensation will be paid on the last paycheck, pro-rated according to the schedule herein, provided the proper two (2) weeks written notice is given. Employees who do not exercise the option to receive annual compensation for accrued sick leave shall carry over and maintain said sick leave from year to year. Upon retirement, those employees hired before July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one half (½) of their accumulated sick leave as monetary compensation in an amount not to exceed 720 hours. Upon retirement, those employees hired after July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one-half (½) of their accumulated sick leave as monetary compensation in an amount not up to exceed 480 a maximum of nine hundred and sixty (960) hours. Employees hired after July 1For example, 2012 an employee retiring with the maximum of nine hundred and retiring into IMRF shall receive the sixty (960) hours of accumulated sick leave as monetary may receive compensation two months following retirement so that the sick leave payment will not be included in the final rate of earnings for pension purposesno more than four hundred and eighty (480) hours. This benefit benefit, however, shall not be available to individuals retiring on a disability pension. Employees with more than nine hundred and sixty (960) hours of accumulated sick leave as of January 1, 2009 will have their personal cap locked as of that date to the amount of sick leave accrued. They shall continue to be compensated pursuant to the buy-back schedule above and retain all accrued sick leave over the nine hundred and sixty (960) hours until used in accordance with the provisions of this agreement. Upon retirement they shall be compensated in the manner proscribed above to a maximum of up to one-half (½) of their accumulated sick leave up to the maximum cap of nine hundred and sixty (960) hours.