Sick Leave Conversion at Retirement. Any full-time employee, regardless of length of service at Cincinnati State, who formally retires per the regulations of SERS and is eligible to draw retirement benefits from the system may convert accumulated sick leave up to a maximum of 30 days at the rate of one day for every three days of sick leave into a lump sum payment upon the effective date of official retirement. When the lump sum cash payment amount an eligible employee may receive is computed, the rate shall be computed as .00384 x the employee's current annual salary x the number of eligible days.
Sick Leave Conversion at Retirement. Each employee who separates from County service on retirement only shall have the option of converting one hundred percent (100%) of all unused sick leave remaining at the time of retirement to retirement service credit as provided by Government Code Section 31641.03. This benefit will be implemented by the Board of Supervisors through an amending ordinance to include eligible employees in the bargaining units represented in this Memorandum of Understanding under the provisions of Ordinance 3807. The provisions of Section 19.5.b. shall not be used in conjunction with Section 19.5.a. (Sick Leave Payoff Upon Separation) of this MOU.
Sick Leave Conversion at Retirement. Upon retirement an employee shall convert their sick leave into their trust account at the rate of eighteen dollars ($18.00) per hour of accrued time; rounded to the nearest hour. At the time an across-the-board wage increase is implemented, the rate contained in this section will be indexed to the across-the-board wage increase noted for that year effective the date of that wage increase.
Sick Leave Conversion at Retirement. Upon retirement, a bargaining unit employee may convert to pay up to 320 hours of his/her accumulated sick time.
Sick Leave Conversion at Retirement. Government Code Section 20965: Credit for Unused Sick Leave, whereby unused accumulated sick leave, at the time of retirement, is converted to additional service credit at the rate of 0.004 year of service for each day of unused accumulated sick leave. There is no cost to the employee.
Sick Leave Conversion at Retirement. Employees retiring from the Library may, in lieu of receiving payment for unused sick leave as provided herein, choose to have unused sick leave converted to additional service credit as provided by XxxXXXX.
Sick Leave Conversion at Retirement. 6.2.4.1 An employee may convert 100% of accumulated sick leave to be applied to early retirement leave immediately prior to the effective date of retirement. Refer to Section 403.10 of the Personnel Rules and Regulations.
6.2.4.2 Employees may convert 100% of both sick and vacation leave accumulation to cash payment at the time of retirement.
Sick Leave Conversion at Retirement. Employees who retire with at least 10 years of service may elect to convert all accrued sick leave to a medical insurance bank. The value of the medical insurance bank shall be determined by multiplying the number of accrued sick leave hours by the employee's hourly rate of pay as defined in Subsection 7.3. The retired employee and the employee’s dependents shall be entitled to continued group health insurance coverage currently in effect. The premium for such coverage will be deducted from the medical insurance bank until the bank is exhausted. At that time, the coverage may be converted to an individual policy at the discretion of the employee pursuant to the terms and conditions set by the Teamsters Managed Trust. Subject to approval by the City and Teamsters Managed Trust, retirees may elect to utilize funds in their medical insurance bank to purchase alternate medical coverage.
Sick Leave Conversion at Retirement. The City agrees to convert sick leave pay at retirement to a PERS supplement, as contemplated by ORS 238.350.
Sick Leave Conversion at Retirement. 19 A. Any employee hereunder with at least ten (10) years of completed full-time 20 service and through twenty (20) years of completed full-time service in the 21 employ of the City of Bucyrus who elects to retire shall be entitled to receive 22 in cash, at his rate of pay at that time, twenty-five percent (25%) of the value 23 of his accrued but unused sick leave credit up to a maximum of two hundred 24 eighty (280) hours of accrued sick leave.
26 B. Any employee with more than twenty (20) years of completed full-time service in 27 the employ of the City of Bucyrus who elects to, and retires from active service 28 under a State of Ohio pension fund shall be entitled to receive payment at his rate 29 of pay at that time of his accrued, but unused sick leave credit according to the 30 following formulas:
32 1. Up to 960 hours at full value if the employee's balance as of 33 December 26, 2017 was less than or equal to 960 hours;
34 2. If the employee's sick leave balance as of December 26, 2017 was 35 greater than 960 hours as follows: 37 and 39 a. Up to 1320 hours at full value 40
