Sick Leave Buyout. At the discretion of the EMPLOYEE and the annual approval of the BOARD, accumulated personal sick leave may be purchased by the BOARD under the following conditions:
Sick Leave Buyout. Employees who separate from state service due to retirement or death shall be compensated for their unused sick leave accumulation at the rate of 25%. Compensation shall be based upon the employee’s salary at the time of separation. For the purpose of this subsection, retirement shall not include “vested out–of–service” employees who leave funds on deposit with the retirement system. Compensation for unused sick leave shall not be used in computing the retirement allowance; therefore no contributions are to be made to the retirement system for such payments, nor shall such payments be reported as compensation. An employee who separates from the classified service for any reason other than retirement or death shall not be paid for accrued sick leave. Annually, employees may also buy out up to twelve (12) days of sick leave per year at the rate of 25% so long as their total accumulation after the buyout is sixty (60) days or more.
Sick Leave Buyout. A buyout of accumulated sick leave days (total sick hours/7), paid at 10% (daily rate* .10) of the teacher’s daily rate of pay.
Sick Leave Buyout. (OPSRP Members) The city will contribute 25% of an employee’s accrued sick leave to the employee’s HRA XXXX upon the employee’s retirement if the employee, at the time of retirement, is eligible to receive retirement benefits under the Oregon Public Service Retirement Plan (OPSRP) and has twelve (12) or more years of service to the City of Milwaukie.
Sick Leave Buyout. All full-time paid members shall be entitled to buy out sick leave above the Minimum Cap in the form of an annual contribution to their deferred compensation plan at a dollar for dollar rate. The hours accrued above the minimum cap as of the 1st payday in November shall be the amount of hours eligible for buyout into the Employees deferred compensation account (aka Health Savings Plan, Health Savings Account, Deferred Compensation Account or an equivalent approved plan of or by the District). The DISTRICT shall transfer eligible funds into the EMPLOYEE’s deferred compensation account as of the 2nd day in December.
Sick Leave Buyout. 1. Upon retirement, the employee shall request to make pre-tax contributions into the WSCFF Employee Benefit Trust in the amount equal to 100% of the employee’s sick leave buyout per Article 10, section F.
Sick Leave Buyout. Annually by no later than June 30th, the Sheridan Community Schools will buy all unused sick leave days above one hundred eighty-four (184) days at the prevailing substitute teacher daily rate of pay, not to exceed 13 days in any given year.
Sick Leave Buyout. Effective September 1, 2002, pursuant to Pubic Act 92-0599 and sub- sequently upon the Employee’s request, unused sick leave that can be used for sick leave buy-out will be paid at the current rate of earnings as part of earnings from the University during the period of up to two years of employment prior to retirement, subject to the 20 percent limitation and the guidelines set by SURS. The Employee must submit an irrevocable “election to retire” prior to receiving this benefit. In the event that Act 92-0599 is repealed or amended, unused sick leave that can be used for sick leave buy-out will not be paid as employment prior to retirement to the extent prohibited by such amendment, unless a new agreement allowing such payment is negotiated by the University and UPI. Employees already receiving the benefit at the time of the repeal or amendment of Act 92-0599 will have the choice to continue receiving the benefit.
Sick Leave Buyout. Full time employees who have accumulated over thirty-five days of sick leave may, at the employee's option, sell back to the Employer up to twelve sick days per year at fifty percent of their current daily rate of pay, provided that the sale of such sick leave does not reduce the employee's sick leave accumulation below thirty- five days. Payment for such excess sick leave shall be made in the first pay period in December.
Sick Leave Buyout. Payment of Accrued Sick Leave for long-term employees: Any employee in good standing with at least five (5) years of regular continuous employment with the City may cash out up to forty (40) hours per year of sick leave (not WA State sick leave) for fifty percent (50%) of its value at the employee's current hourly wage if their remaining sick leave balance is over one- hundred (100) hours. Employees in good standing with seven (7) or more years of regular continuous employment with the City may cash out up to eighty (80) hours of City provided sick leave (not WA State sick leave) for seventy-five percent (75%) of its value at their current hourly wage, if their remaining total sick leave balance is at or over one-hundred (100) hours. For the purpose of sick leave payout, hourly wage will be calculated by dividing the current monthly wage by 173.3333. Example: Employee X hired in 1/1/2010 has a balance of one-hundred (100) hours of City provided sick leave and forty (40) hours of WA State sick leave on 1/1/2015 and is currently paid $25.00 per hour. That employee could cash out forty (40) hours of City provided sick leave at fifty percent (50%) of its value at his/her current hourly wage, receiving $500.00 taxable income and would retain a balance of one-hundred (100) hours of sick leave (sixty (60) hours of City provided sick leave and forty (40) hours of WA State sick leave) . Donated leave will not be eligible for use in this provision.
