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:
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.
Sick Leave Cash. Out 20 Employees may cash in unused sick leave days above an accumulation of sixty (60) days at a ratio 21 of one (1) full day's monetary compensation for four (4) accumulated sick leave days. At the 22 employee's option, they can cash-out their unused sick leave days in January of the school year 23 following any year in which more than sixty (60) days of sick leave is accrued and each January 24 thereafter, at a rate equal to one day's monetary compensation of the employee for each four (4) full 25 days of accrued sick leave. 27 The employee's sick leave accumulation shall be reduced four (4) days for each day compensated.
Sick Leave Cash. In To encourage and rew ard personnel, w ho exercise particular care in the maintenance of their personal health and job attendance, the Board provides a good attendance incentive. All employees in the bargaining unit w ho accrue sick leave may cash in sick leave days accrued each year, provided the follow ing criteria are met:
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 This section shall be suspended through June 30, 2022. If an employee has 22 or more days of accumulated sick leave at the end of any contract year, in the first pay period of July of the following contract year that employee may, if he/she is on the payroll during that pay period:
Sick Leave Cash. Out Upon Termination - Sick Leave Conversion for Employees Hired Prior to January 1, 2009 - All employees who retire with a sick leave accrual balance of at least 200 hours may convert 100% of this accumulated sick leave to a dollar equivalent at their hourly rate of pay at the time of retirement. This amount shall be held in an account. The employee’s portion of the medical insurance premium payment will be withheld from their monthly retirement payment by PERS. The Town agrees to pay the retiree quarterly in advance on the first pay period of January, April, July, and October of each year after retirement. The first payment will be pro-rated to the nearest quarter. Retiree’s (including dependents of the retiree) portion of medical payments will be paid from this account by the Town until all monies are depleted from the account. This account will not accrue interest and will not be paid in cash to the retiree or any beneficiaries. The retirees shall be responsible for 100% of their share of future medical insurance premiums once the account is exhausted.
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.
Sick Leave Cash. Out for Employees Hired Prior to October 1, 2018 - All eligible employees who retire with a sick leave accrual balance of at least 200 hours may elect to be paid in cash in accordance with the same provisions as Section.
