Common use of Sick Leave Cashout Clause in Contracts

Sick Leave Cashout. Upon eligibility of retirement in accordance with the Department of Retirement Systems (DRS), employees will receive payment for 25% of all unused, accrued sick leave at the time of separation up to a maximum of 300 hours, to be paid into the employee’s HRA/VEBA subject to IRS limits. Employees are not required to apply for DRS retirement to be eligible to receive payment under this subsection.

Sick Leave Cashout. Upon eligibility of retirement in accordance with the Department of Retirement Systems (DRS), employees will receive payment for 25% of all unused, accrued sick leave (remaining after cashout under Subsection 8, if applicable) at the time of separation up to a maximum of 300 hours, to be paid into the employee’s HRA/VEBA subject to IRS limits. Employees are not required to apply for DRS retirement to be eligible to receive payment under this subsection.

Sick Leave Cashout. Upon eligibility of retirement in accordance with the Department of Retirement Systems (DRS), employees will receive payment for 25% of all unusedun-used, accrued sick leave at the time of separation up to a maximum of 300 hours, to be paid into the employee’s HRA/VEBA subject to IRS limits. Employees are not required to apply for DRS retirement to be eligible to receive payment under this subsection.

Sick Leave Cashout. Upon eligibility of retirement in accordance with the Department of Retirement Systems (DRS), employees will receive payment for 25% of all unused, accrued sick leave (remaining after cashout under Subsection 5, if applicable) at the time of separation up to a maximum of 300 hours, to be paid into the employee’s HRA/VEBA subject to IRS limits. Employees are not required to apply for DRS retirement to be eligible to receive payment under this subsection.