SICK LEAVE CASH OUT UPON RETIREMENT. SECTION 39.1 The following shall apply to bargaining unit employees in the event of an employee's death, retirement (including disability retirement), or resignation:
SICK LEAVE CASH OUT UPON RETIREMENT. Employees retiring from the Board with a minimum of ten (10) years of continuous service will be paid out for sick leave at a rate of 1 hour of pay for every 4 hours of accumulated sick leave at the employee’s regular rate of pay at retirement. The amount to be paid will be at the highest level for which the employee is qualified as outlined below: Years of Service Maximum Hours Payment Minimum of 10 years of public service up to 240 hours (960 hours to convert) 10-14.9 years with the Board up to 280 hours (1120 hours to convert) 15-19.9 years with the Board up to 320 hours (1280 hours to convert) 20-24.9 years with the Board up to 360 hours (1440 hours to convert) 25 or more years with the Board up to 400 hours (1600 hours to convert)
