Common use of Sick Leave Cash Out Clause in Contracts

Sick Leave Cash Out. Employees will be eligible to receive monetary compensation for accrued sick leave as follows: 45.6.1 In January of each year, and at no other time, an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation; provided: a. No sick leave hours may be converted which would reduce the calendar year-end balance below four hundred eighty (480) hours. b. Monetary compensation for converted hours will be paid at the rate of twenty-five percent (25%) and will be based on the employee’s current salary. c. All converted hours will be deducted from the employee’s sick leave balance. d. Notification of the request to convert these hours must be received by Human Resources by January 31st of each year. 45.6.2 Employees who separate from state service because of retirement or death are compensated for twenty-five percent (25%) of their total sick leave hours or the University may deposit equivalent funds in a medical expense plan. Compensation is based on the employee’s salary at the time of separation. Retirement under this section does not include “vested out of service” employees who leave funds on deposit within the Department of Retirement. 45.6.3 Employees who separate for any reason other than retirement or death are not paid for their accrued sick leave. 45.6.4 Former state employees who are re-employed by the university within five (5) years of leaving state service will be granted all unused and unpaid sick leave credits they had at separation. Unless otherwise required by applicable law, employees who are reemployed after retiring and cashing out their sick leave balance will not have leave reinstated at the time of rehire; when the such employee subsequently retires again or dies, only that unused sick leave accrued since the date of reemployment minus that taken within the same period may be compensated as provided in Section 45.6.2.

Sick Leave Cash Out. Employees will be eligible to receive monetary compensation for accrued sick leave as follows: 45.6.1 In January of each year, and at no other time, an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation; provided: a. No sick leave hours may be converted which would reduce the calendar year-end balance below four hundred eighty (480) hours. b. Monetary compensation for converted hours will be paid at the rate of twenty-five percent (25%) and will be based on the employee’s current salary. c. All converted hours will be deducted from the employee’s sick leave balance. d. Notification of the request to convert these hours must be received by Human Resources by January 31st of each year. 45.6.2 Employees who separate from state service because of retirement or death are compensated for twenty-five percent (25%) of their total sick leave hours or the University may deposit equivalent funds in a medical expense plan. Compensation is based on the employee’s salary at the time of separation. Retirement under this section does not include “vested out of service” employees who leave funds on deposit within the Department of Retirement. 45.6.3 Employees who separate for any reason other than retirement or death are not paid for their accrued sick leave. 45.6.4 Former state employees who are re-employed by the university within five (5) years of leaving state service will be granted all unused and unpaid sick leave credits they had at separation. Unless otherwise required by applicable law, employees who are reemployed after retiring and cashing out their sick leave balance will not have leave reinstated at the time of rehire; when the such employee subsequently retires again or dies, only that unused sick leave accrued since the date of reemployment minus that taken within the same period may be compensated as provided in Section 45.6.245.7.2.

Sick Leave Cash Out. Employees will be eligible to receive monetary compensation for accrued sick leave as follows: 45.6.1 In January of each year, and at no other time, an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation; provided: a. No sick leave hours may be converted which would reduce the calendar year-end balance below four hundred eighty (480) hours. b. Monetary compensation for converted hours will be paid at the rate of twenty-five percent (25%) and will be based on the employee’s current salary. c. All converted hours will be deducted from the employee’s sick leave balance. d. Notification of the request to convert these hours must be received by Human Resources by January 31st of each year. 45.6.2 Employees who separate from state service because of retirement or death are compensated for twenty-five percent (25%) of their total sick leave hours or the University may deposit equivalent funds in a medical expense plan. Compensation is based on the employee’s salary at the time of separation. Retirement under this section does not include “vested out of service” employees who leave funds on deposit within the Department of Retirement. 45.6.3 Employees who separate for any reason other than retirement or death are not paid for their accrued sick leave. 45.6.4 Former state employees who are re-employed by the university within five (5) years of leaving state service will be granted all unused and unpaid sick leave credits they had at separation. Unless otherwise required by applicable law, employees who are reemployed after retiring and cashing out their sick leave balance will not have leave reinstated at the time of rehire; when the such employee subsequently retires again or dies, only that unused sick leave accrued since the date of reemployment minus that taken within the same period may be compensated as provided in Section 45.6.245.76.2.

Sick Leave Cash Out. Employees will be eligible to receive monetary compensation for accrued sick leave as follows: 45.6.1 45.7.1 In January of each year, and at no other time, an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation; provided: a. No sick leave hours may be converted which would reduce the calendar year-end balance below four hundred eighty (480) hours. b. Monetary compensation for converted hours will be paid at the rate of twenty-five percent (25%) and will be based on the employee’s current salary. c. All converted hours will be deducted from the employee’s sick leave balance. d. Notification of the request to convert these hours must be received by Human Resources by January 31st of each year. 45.6.2 45.7.2 Employees who separate from state service because of retirement or death are compensated for their total sick leave accumulation at the rate of twenty-five percent (25%) of their total sick leave hours or the University may deposit equivalent funds in a medical expense plan. Compensation is based on the employee’s salary at the time of separation. Retirement under this section does not include “vested out of service” employees who leave funds on deposit within the Department of Retirement. 45.6.3 45.7.3 Employees who separate for any reason other than retirement or death are not paid for their accrued sick leave. 45.6.4 45.7.4 If an employee is retired from government service before being re-employed, when the employee subsequently retires again or dies, only that unused sick leave accrued since the date of reemployment minus that taken within the same period may be compensated. 45.7.5 Former state employees who are re-employed by the university within five (5) years of leaving state service will be granted all unused and unpaid sick leave credits they had at separation. Unless otherwise required by applicable law, employees who are reemployed after retiring and cashing out their sick leave balance will not have leave reinstated at If the time of rehire; employee was retired from government service before being re-employed when the such employee subsequently retires again or diesagain, only that unused sick leave accrued since the date of reemployment minus that taken within the same period may be compensated as provided in Section 45.6.245.7.2.

Sick Leave Cash Out. Employees will be eligible to receive monetary compensation for accrued sick leave as follows: 45.6.1 In January of each year, and at no other time, an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation; provided: a. : No sick leave hours may be converted which would reduce the calendar year-end balance below four hundred eighty (480) hours. b. . Monetary compensation for converted hours will be paid at the rate of twenty-five percent (25%) and will be based on the employee’s current salary. c. . All converted hours will be deducted from the employee’s sick leave balance. d. . Notification of the request to convert these hours must be received by Human Resources by January 31st of each year. 45.6.2 Employees who separate from state service because of retirement or death are compensated for twenty-five percent (25%) of their total sick leave hours or the University may deposit equivalent funds in a medical expense plan. Compensation is based on the employee’s salary at the time of separation. Retirement under this section does not include “vested out of service” employees who leave funds on deposit within the Department of Retirement. 45.6.3 Employees who separate for any reason other than retirement or death are not paid for their accrued sick leave. 45.6.4 Former state employees who are re-employed by the university within five (5) years of leaving state service will be granted all unused and unpaid sick leave credits they had at separation. Unless otherwise required by applicable law, employees who are reemployed after retiring and cashing out their sick leave balance will not have leave reinstated at the time of rehire; when the such employee subsequently retires again or dies, only that unused sick leave accrued since the date of reemployment minus that taken within the same period may be compensated as provided in Section 45.6.2.