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 to each employee’s credit 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 this section shall not be used in conjunction with Section 19.16.a. (Sick Leave Payoff) 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.
Sick Leave Conversion at Retirement. 1. Employees who retire and qualify for retirement benefits in accordance with the requirements of the Teachers’ Pension and Annuity Fund (TPAF) or Public Employees’ Retirement System (PERS) shall be permitted to convert unused accumulated sick leave days into cash at the time of retirement. Days donated to the sick bank specified in Article XIV of the Agreement shall be excluded from this conversion option. Days withdrawn from the sick leave bank shall be deducted from the individual’s accumulated sick leave at retirement prior to calculating severance pay.
Sick Leave Conversion at Retirement. A. Sick Leave Cash Out Formula Effective July 8, 2002, the following benefits shall apply: Upon retirement, bargaining Unit employees with a minimum of 750 hours of accrued and unused sick leave, excluding the first 250 hours, will be paid for 25% of the remaining hours as base hourly wage. Additional language of this Section 3-4 is contained in Attachments B and C.
Sick Leave Conversion at Retirement. The City agrees to contract with CalPERS to implement 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.
