Sick Leave Cash. Out Upon Termination for Employees Hired Prior to October 1, 2018 Employees who terminate employment with the Town for any reason other than retirement or disciplinary termination, may cash-out their accumulated sick leave as follows: Months of Employment 1-59 months 25% 60-119 months 37.5% 120 months or more 50% In order to be eligible for the sick leave cash-out program, an employee must have a sick leave accrual balance of at least 200 hours at the time of termination.
Sick Leave Cash. Out During Employment: For calendar year 2020, not more than once during the fiscal year, an employee who has accumulated unused sick leave in excess of three hundred twenty (320) hours shall, upon request, receive a payoff for up to one-third (1/3) of all his/her accumulated sick leave, provided that the remaining balance is not reduced below three hundred twenty (320) hours. The percentage of sick leave paid shall be computed based on years of continuous service in accordance with Section 1.D.3.a of this Article. The employee’s sick leave balance shall be reduced by the total number of hours elected and approved for payoff by the employee prior to the application of the eligible percentage described in Section 1.D.3.a of this Article. By December 15 of each year (starting on December 15, 2020 for cash out in 2021), an employee who has accumulated unused sick leave in excess of 320 hours may do either of the following:
i. Request that up to one-third of the balance above 320 hours, but no more than the maximum permitted by IRS Code, be placed into the employee’s deferred compensation account either with the pay day for pay period 14 or pay period 26; or
ii. Make an irrevocable election to cash out up to ninety-six
Sick Leave Cash out . Employees may cash in unused sick leave above an accumulat ion of sixt y ( 60 ) days f rom t he previous year' s accumulat ion, at a rat io of one ( 1 ) full day monet ary compensat ion for four ( 4 ) accumulat ed sick leave days. At t he employee' s opt ion, t hey can cash out t heir unused sick leave days in January of t he school year following any year in which a minimum of sixt y ( 60 ) days of sick leave is accrued and each January t hereaf t er, at t he rat e equal t o one day' s monet ary compensat ion of t he employee for each four ( 4 ) full days of accrued sick leave. The employee' s sick leave accumulat ion shall be reduced four ( 4 ) days for each day compensat ed.
a. No employee may receive compensat ion for sick leave accumulat ed in excess of o ne ( 1 ) day per mont h.
b. At t he t ime of separat ion f rom school dist rict employment due t o ret irement or deat h as defined by St at e law and regulat ions governing t he sick leave incent ive program , an eligible employee or t he employee' s est at e shall receive remunerat ion at a rat e equal t o one ( 1 ) day' s current monet ary compensat ion of t he employee for each four ( 4 ) days accrued sick leave for illness or injury.
Sick Leave Cash out: Upon retirement, as defined in Art. 2 Definitions, or upon separation of service with at least 20 years of employment with the City of Bellevue, a regular status employee is entitled to receive a cash payment equal to 10 percent of his/her current total unused sick leave hours, multiplied by the employee’s current base hourly rate, up to 240 hours.
Sick Leave Cash. In
1. The employee must use no more than a total of three sick/personal leave days during the course of the f iscal year (July 1 -June 30).
2. The employee must have remaining a minimum of 21 accrued sick leave days after cash-in of sick leave days accrued on an annual basis. Compensat ion for annual accrued sick leave cashed in, pursuant to the above provisions, shall be as follow s:
a) The employee’ s daily rate of pay during the f iscal year in w hich the days w ere accrued t xxxx 80 percent.
b) Payment for this benefit w ill be made on or before August 1 of the follow ing f iscal year. Days for w hich such payment is received shall be deducted f rom the employee’ s accumulated leave balance.
Sick Leave Cash out will be paid in the first payroll fully within the following year.
Sick Leave Cash. Out Part-time faculty who retire are required to participate in the medical expense plan (VEBA) on the same basis as full-time faculty, subject to VEBA rules and regulations for participation. If the VEBA is not active at the time of retirement, the sick leave will be cashed out to the individual employee. For purposes of sick leave cash out, part-time faculty must provide the College with appropriate verification from the State Board Retirement Plan or social security which shows they are receiving distribution payments and are in retirement status.
Sick Leave Cash out. Employees may cash out unused sick leave above an accumulation of sixty (60) days from the previous year's accumulation, at a ratio of one (1) full day monetary compensation for four (4) accumulated sick leave days. At the employee's option, they can cash out their unused sick leave days in January of the school year following any year in which a minimum of sixty (60) days of sick leave is accrued and each January thereafter, at the rate equal to one day's monetary compensation of the employee for each four (4) full days of accrued sick leave. The employee's sick leave accumulation shall be reduced four (4) days for each day compensated.
7.1.2.1 No employee may receive compensation for sick leave accumulated in excess of one
(1) day per month.
7.1.2.2 At the time of separation from school district employment due to retirement or death as defined by State law and regulations governing the sick leave incentive program, an eligible employee or the employee's estate shall receive remuneration at a rate equal to one (1) day's current monetary compensation of the employee for each four (4) days accrued sick leave for illness or injury.
7.1.2.3 As approved on an annual basis, the District and Association agree to offer participation in a medical reserve trust program for employees: 1) separating from employment, eligible for retirement, and eligible for up to 180 days of sick leave cash-out at a 1:4 ratio; 2) who have accumulated 60 days or more days of sick leave, annual cash-out in January of up to twelve (12) days at a 1:4 ratio; and 3) who have accumulated vacation leave eligible for cash-out.
Sick Leave Cash. Out
a. The City will pay out the Executive Management employees unused sick leave banks at 25% of the employee’s current base hourly rate of pay. During the period of this MOU, the City agrees to look into ways to maximize the unused sick leave contributions, possibly through a 401(a) plan.
Sick Leave Cash. Out at Retirement or Death At the time of separation from District employment due to retirement or death, an eligible employee or the employee's estate shall receive remuneration at a rate equal to one (1) day's current monetary compensation of the employee for each four (4) full days of accrued sick leave for illness or injury.
