Sick Leave Conversion at Retirement or Death Sample Clauses

Sick Leave Conversion at Retirement or Death. Fifty percent (50%) of accumulated, unused sick leave shall be converted to retirement benefits pursuant to the Public Employees Retirement Act.
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Sick Leave Conversion at Retirement or Death. A. An employee who is separating employment from the City by way of CalPERS retirement shall be eligible to deposit the value of unused accumulated sick leave hours at the regular rate of pay earned at the time of retirement up to the maximum of one thousand nine hundred (1,900) hours to the City’s Retirement Health Savings (RHS) Plan to cover reimbursable medical expenses in accordance with IRS regulations.
Sample 1
Sick Leave Conversion at Retirement or Death. A. Effective December 15, 2008, one hundred percent (100%) of an employee’s unused accumulated sick leave shall be deposited into the City Retirement Health Savings (RHS) Plan to be used for eligible medical expenses, provided that the maximum number of hours that will be deposited is nineteen hundred (1,900).
Sample 1
Sick Leave Conversion at Retirement or Death. An employee covered under this Agreement who retires from the Employer under the Public Employees Retirement System shall be entitled to payment for accumulated sick leave on the basis of one hour of pay at the employee's straight-time rate on date of retirement for every four hours of accumulated sick leave. However, the total value of sick leave paid in this manner shall not exceed the value of 60 days paid leave or maximum of 480 hours. Employees who have received a sick leave conversion from the Employer or another public employer shall not be eligible for a conversion under this provision. An employee covered under this Agreement who dies shall have sick leave paid to his or her personal representative or estate on the same basis as though he or she had then retired, whether or not the employee was eligible for retirement on the date of death.
Sample 1
Sick Leave Conversion at Retirement or Death a) Tier One/Tier Two PERS Retirement Plan: For Association members covered under PERS Tier One or Two retirement, there shall be no payment of sick leave at death or retirement. In lieu of such payment, unused accumulated sick leave shall be reported to PERS and credit shall be applied as provided by PERS.
Sample 1

Related to Sick Leave Conversion at Retirement or Death

  • Sick Leave Conversion On January 1 of each year, an employee may convert up to a maximum of 30 hours accumulated sick leave at fifty percent (50%) cash value for the sole purpose of reimbursing the employee for medical costs. This conversion is subject to the following:

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Retirement Date If the Executive remains in the continuous employ of the Bank, the Executive shall retire from active employment with the Bank on the Executive’s sixty-fifth (65th) birthday, unless by action of the Board of Directors this period of active employment shall be shortened or extended.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Death or Disability The Executive's employment shall terminate automatically upon the Executive's death during the Employment Period. If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to the Executive written notice in accordance with Section 12(b) of this Agreement of its intention to terminate the Executive's employment. In such event, the Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the "Disability Effective Date"), provided that, within the 30 days after such receipt, the Executive shall not have returned to full-time performance of the Executive's duties. For purposes of this Agreement, "Disability" shall mean the absence of the Executive from the Executive's duties with the Company on a full-time basis for 180 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Executive or the Executive's legal representative.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

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