SICK LEAVE CREDIT GRATUITY Sample Clauses

SICK LEAVE CREDIT GRATUITY. C.9.1. A Sick Leave Credit gratuity shall be paid: (a) to a Teacher who retires on or after January 1, 1970 and who is entitled on such retirement to receive payment of retirement benefits commencing on such retirement as a participating member of a pension plan of the Board or Teacher's superannuation plan recognized by the Board whether or not the Teacher elects to receive such payment commencing on retirement or the Teacher elects to defer the commencement of such payment; (b) to a Teacher who becomes totally and permanently disabled from performing the duties of the Teacher's employment with the Board; (c) as a death benefit to a named beneficiary or to the estate of a Teacher who dies while in the employ of the Board. C.9.2. The Sick Leave Credit gratuity to be paid shall be equal to 2% of the Total Salary of the Teacher at the time of retirement, disability or death, multiplied by the number of full years' service with the Board and any Predecessor Boards, less any monies which the Teacher received as a service gratuity plus accrued interest at 6% compounded semi-annually from the date of payment of the gratuity, provided that the amount of the Sick Leave Credit gratuity payment shall not exceed the statutory limits, i.e. the Teacher's per diem rate multiplied by half the Sick Leave Credits accumulated in the Teacher's account and provided as well that the amount of such payment shall not exceed the statutory limit of one half year's earnings. C.9.3. For the purpose of calculating the amount of Sick Leave Credit gratuity only Sick Leave Credits earned by the Teacher during employment with the Board and any Predecessor Boards shall be taken into account; Sick Leave Credits accumulated from other employment will be used first in the case of illness but will not be used in the calculation of the gratuity.

SICK LEAVE CREDIT GRATUITY. L39.1 Retirement Gratuities were frozen as of August 31, 2012. A Teacher is not eligible to receive a sick leave credit gratuity or any non-sick leave credit retirement gratuity (such as, but not limited to, service gratuities or RRSP contributions) after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day.

SICK LEAVE CREDIT GRATUITY. (a) A teacher qualified under paragraph (b) to receive a sick leave gratuity will receive a gratuity as follows: 10 years service, 10% of cumulative sick leave credit (with a maximum accumulation of sick leave credits of 200 days) x 1/200th of annual salary at date of retirement from teaching: 11 years service, 12% x 1/200th of annual salary 12 years service, 14% x 1/200th of annual salary 13 years service, 16% x 1/200th of annual salary 14 years service, 18% x 1/200th of annual salary 15 years service, 20% x 1/200th of annual salary 16 years service, 22% x 1/200th of annual salary 17 years service, 24% x 1/200th of annual salary 18 years service, 26% x 1/200th of annual salary 19 years service, 28% x 1/200th of annual salary 20 years service, 30% x 1/200th of annual salary 21 years service, 32% x 1/200th of annual salary 22 years service, 34% x 1/200th of annual salary 23 years service, 36% x 1/200th of annual salary 24 years service, 38% x 1/200th of annual salary 25 years service, 40% x 1/200th of annual salary 26 years service, 42% x 1/200th of annual salary 27 years service, 44% x 1/200th of annual salary 28 years service, 46% x 1/200th of annual salary 29 years service, 48% x 1/200th of annual salary 30 years service, 50% x 1/200th of annual salary Partial years of service shall be rounded to the nearest month. For each month of service over the number of completed years of service 0.2% shall be added to the % provided for in this paragraph. (b) Saving any rights which the teacher may have acquired prior to this date and by virtue of Section 180, subsection 1 of the Education Act, R.S.O. 1990, c.E.2., and amendments thereto, after ten (10) years service with the Board: i) the teacher who is retired from the Board, and qualifies for, and is in receipt of a pension from the Ontario Teachers' Pension Plan Board; ii) the teacher who retires from the Board and who elects to transfer the commuted value of their pension to another retirement savings arrangement in accordance with the provisions of the Teachers’ Pension Act will be deemed to have retired on pension for the purpose of qualifying for a retirement gratuity if their date of retirement is within one (1) year of the date they would have qualified to receive an unreduced pension from the Teachers’ Pension Plan; iii) Where the Director of Education permits at his/her discretion on compassionate grounds, the teacher who retires from the Board and/or who elects to transfer the commuted value of their ...

SICK LEAVE CREDIT GRATUITY. 15.01 The amount of the Sick Leave Credit Gratuity on retirement shall be calculated as follows: X x .5 x Y x Z = gratuity 200 20 where “X” is the member’s final year’s salary based on his/her position on the grid; and where "Y" is the number of days of cumulative sick leave credit at date of retirement; and where "Z" is the number of years of service with the Lambton Kent District School Board or its predecessor Boards excluding years of service as an occasional teacher or other non- teaching position (not to exceed its denominator). 15.02 In the event of the death of an eligible Member either before or after retirement, but before receiving the full benefits of the Sick Leave Credit Gratuity as provided under Section 15.01, such benefits shall be paid to his/her estate. 15.03 The payment of the Sick Leave Credit Gratuity shall be made only when a Member retires from teaching to pension, or retires through permanent total disability, or dies. Any Sick Leave Credit Gratuity on retirement owing in respect of his/her service shall be paid to his/her estate.

SICK LEAVE CREDIT GRATUITY. The sick leave Credit gratuity shall be paid to or on behalf of a Teacher:

SICK LEAVE CREDIT GRATUITY a) Saving any rights which the Teacher may have acquired prior to this date, and by virtue of Section 180 (10) of the Education Act, R.S.O. 1990, c.E.2, and amendments thereof after ten (10) years of service with the Board, the Teacher who is retired from the Board on a pension from the Pension Board because of: i) age or

SICK LEAVE CREDIT GRATUITY. A Teacher whose contract of employment commenced before 1978 January 01 shall be paid, or if deceased the estate shall be paid, a gratuity as calculated in Article 10.5.6, subject to a maximum of one-half the gross annual salary on date of termination.

SICK LEAVE CREDIT GRATUITY. Sick Leave Credit Gratuity will be calculated and paid when a teacher retires from employment of the board on pension under the Ontario Teachers' Pension Plan.

SICK LEAVE CREDIT GRATUITY. It is agreed that upon retirement a teacher will be entitled to a sick leave credit gratuity based upon the following formula:

SICK LEAVE CREDIT GRATUITY. 5.3.1.1 Sick Leave Credit days accumulate at the rate of twenty (20) days per school year less days absent for sickness with no accompanying loss of salary to a maximum of two- hundred and twenty (220) days. 5.3.1.2 Upon termination of employment after five (5) or more years of continuous service with the Board and not qualifying under 5.3.2, a Teacher shall be entitled to a sick leave credit gratuity subject to the following: 5.3.1.2.1 that the Teacher is leaving the Secondary teaching profession in Ontario; 5.3.1.2.2 that he/she is not entering employment where his/her Accumulated Sick Leave Credits are transferable; 5.3.1.2.3 that he/she has not been dismissed for a cause (this does not include Surplus Teachers); 5.3.1.2.4 that to receive maximum gratuity, the Teacher shall have been employed fifteen (15) continuous years with the Board. 5.3.1.3 The Sick Leave Credit Gratuity shall be equal to his/her salary on the Grid for one-third (1/3) of the number of days standing to his/her credit in Accumulated Sick Leave, and, in any event, not in excess of one-third (1/3) year earnings on the Grid received by him/her immediately prior to termination of the employment with the Board or $9,000, whichever is the lesser. 5.3.1.4 This gratuity shall be calculated as follows based on a maximum accumulation of two- hundred (200) days: G = ASL x Annual Grid Salary x Years with the Board (maximum 15) 3 200 15 where ASL = Accumulated Sick Leave Credit Days to be surrendered. G = Sick Leave Credit Gratuity (max. $9,000) 5.3.1.5 The gratuity shall be payable on January 30 or September 30, which ever date follows termination of employment.