Common use of Sick Leave Conversion at Retirement Clause in Contracts

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 an employee shall convert their sick leave into their trust account at the rate of eighteen nineteen dollars and forty-eight cents ($18.0018.0019.48) 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.