Sick Leave on Retirement Sample Clauses

Sick Leave on Retirement. Employees shall be entitled to fifty percent (50%) of their unused sick leave accrual up to a maximum of seventy-five (75) payout days, on retirement or in other circumstances approved by the Board.
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Sick Leave on Retirement. An employee who retires may be credited with a portion of his/her sick leave for purpose of determining his/her retirement compensation, in accordance with the Oregon Public Employees Retirement System.
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Sick Leave on Retirement. One-half (1/2) of accrued unused sick leave days, to a maximum of four hundred eighty (480) hours, will be paid upon death to an employee's estate. An employee with ten (10) or more years of full time service will, upon separation from County service, receive one-half (1/2) of his/her accrued unused sick leave to a maximum of four hundred eighty (480) hours. The pay off of sick leave will be included for the purpose of final average compensation (FAC), regardless of when pay off is received.
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Sick Leave on Retirement. Upon retirement of an employee, as permitted by applicable law, fifty (50%) percent of an employee’s unused sick leave shall be credited to retirement.
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Sick Leave on Retirement. A. Any unit member who is a Tier 1 or Tier 2 member of the New York State Teachers’ Retirement System or, in the case of occupational and physical therapists and assistants, of the New York State Employees’ Retirement System, who has been employed in the District for 15 or more years (or, for employees who were in District service on or before June 30, 1988, 10 years), who submits to the Superintendent of Schools a written statement of intention to retire under the New York State Teachers' Retirement System, will be eligible for retirement year allowance provided notice is given to the Superintendent by February 1st of the school year in which said unit member shall retire or, in the event of a mid-year retirement, by the first teacher work day in September. Payment will be made within 30 days of the date of such retirement. No unit member will be eligible for payment unless he/she retires at the end of a semester. In an emergency and at the discretion of the Superintendent, the dates for notice and the effective date of the retirement may be waived. B. The retirement allowance for Tier 1 and Tier 2 unit members will be based on the unit member's accumulated number of sick days and will be paid at the rate of 40% of the number of accumulated sick days multiplied by the unit member’s daily rate to a maximum of $225. If the unit member has not accumulated at least 50 sick days, said unit member will not be eligible for this retirement allowance. C. Any unit member who is a Tier 3 or Tier 4 member of the New York State Teachers’ Retirement System or, in the case of occupational and physical therapists and assistants, of the New York State Employees’ Retirement System, who has accumulated at least 50 sick days but less than 100 sick days shall have the option of selling back to the District up to 4 days each school year at the rate of $225 per day. Tier 3 or Tier 4 unit members who have accumulated at least 100 sick days shall have the option of selling back to the District up to 6 days each school year at the rate of $225 per day. The unit member must carry over at least 5 days from the allotment for the year for which the option is exercised. In addition, any Tier 3 or Tier 4 unit member who has in excess of 100 days shall have the option, on a one-time basis, to sell back to the District any additional days in excess of 100 at the rate of 40% of the number of days sold back multiplied by $225 per day. Unit members exercising these options must notify the Di...
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Sick Leave on Retirement. If, at any time during the term of this Agreement, the legislature of this State should pass any legislation which would allow any group of state employees to cash out or otherwise receive compensation for accumulated sick leave upon retirement, said legislative provisions shall immediately become a part of this Agreement and shall be fully applicable to all Deck Officers covered by this Agreement.
Sample 1
Sick Leave on Retirement. An employee, upon retirement, shall be entitled to be paid for one-quarter of their unused sick leave (or to the employee's beneficiary of record at the time of his death) except the maximum pay shall be for fifteen (l5) twenty-four (24) hour days.
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Sick Leave on Retirement. Any permanent employee who retires with any earned and unused accumulated sick leave shall be entitled to receive fifty (50%) percent of his/her accumulated sick time as severance pay, said payment not to exceed $9,000.00. This payment shall be paid in a lump sum after the effective date of retirement, or at a time mutually agreed upon by the retired employee and Employer.
Sample 1
Sick Leave on Retirement. An employee shall, on retirement, receive a maximum of $1,500.00 provided that the Employee has one hundred and twenty (120) days sick leave credits. In the event that an employee has less than one hundred and twenty (120) days sick leave credits, the following formula shall apply: Amount of Sick Leave Credits X $1,500.00 In the event of death before retirement, any accrued sick leave cash bonus shall be paid to their beneficiary.
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Related to Sick Leave on Retirement

  • 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.

  • Sick Leave Credit-Based Retirement Gratuities 1) A Teacher is not eligible to receive a sick leave credit gratuity after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day. 2) If the Teacher is eligible to receive a sick leave credit gratuity, upon the Teacher’s retirement, the gratuity shall be paid out at the lesser of, a) the rate of pay specified by the board’s system of sick leave credit gratuities that applied to the Teacher on August 31, 2012; and b) the Teacher’s salary as of August 31, 2012. 3) If a sick leave credit gratuity is payable upon the death of a Teacher, the gratuity shall be paid out in accordance with subsection (2). 4) For greater clarity, all eligibility requirements must have been met as of August 31, 2012 to be eligible for the aforementioned payment upon retirement, and the Employer and Union agree that any and all wind-up payments to which Teachers without the necessary years of service were entitled to under Ontario Regulation 01/13: Sick Leave Credits and Sick Leave Credit Gratuities, have been paid. 5) For the purposes of the following boards, despite anything in the board’s system of sick leave credit gratuities, it is a condition of eligibility to receive a sick leave credit gratuity that the Teacher have ten (10) years of service with the board: i. Near North District School Board ii. Avon Maitland District School Board iii. Xxxxxxxx-Xxxxxxxxx District School Board

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Retirement, Death or Disability If the Executive’s employment terminates during the Term of this Agreement due to his death, a disability that results in his collection of any long-term disability benefits, or retirement at or after age 62, the Executive (or the beneficiaries of his estate) shall be entitled to receive the compensation and benefits that the Executive would otherwise have become entitled to receive pursuant to subsection (d) hereof upon a resignation without Good Reason.

  • Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to: (a) A special paid leave for a period equivalent to fifty percent (50%) of his/her accumulated sick leave credit, to be taken immediately prior to retirement; or (b) A special cash payment of an amount equivalent to the cash value of fifty percent (50%) of his/her accumulated sick leave credit, to be paid immediately prior to retirement and based upon his/her current rate of pay.

  • Sick Leave Bonus ‌ For every six (6) months of perfect sick leave attendance after July 1, 1987, the employee will receive eight (8) hours of bonus time. This bonus time will be prorated for part-time employees. Such bonus time can be used for any leave purpose covered by this Agreement. Such bonus time shall be counted as vacation leave credits for purposes of determining eligibility for carry- over and cash payments.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Sick Leave Payout No cash payment for unused sick leave will be paid to any employee leaving the service of the Employer.

  • Sick Leave Pay A Nurse granted sick leave shall be paid for the period of such leave at her or his regular hourly rate of pay and the number of hours thus paid shall be deducted from the accumulated sick leave credits of the Nurse.

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