Sick Leave Pay at Retirement Sample Clauses

Sick Leave Pay at Retirement. An employee who has completed at least ten (10) years of service with the City of Watertown and is determined eligible for retirement in accordance with eligibility requirements of the South Dakota Retirement System (SDRS), such eligible employee can receive payment for accrued unused sick leave not in excess of six hundred (600) hours. Deposits to the South Dakota Retirement System, hereinafter referred to as SDRS, for the cash value of unused accrued sick leave are subject to limits of the Internal Revenue Service (IRS) Code Section 415, and the eligibility as set forth by the SDRS. Employees who are determined not eligible for deposit of unused accrued sick leave cash payouts to the employee retirement plan under SDRS, as determined by SDRS, but are eligible for retirement as determined by SDRS, will receive the cash value of accrued unused sick leave not in excess of six hundred (600) hours. Such payout will be provided by the City to the employee through the payroll process. To be eligible for Sick Leave Pay at Retirement, employees must have completed a minimum of ten (10) years of service with the City of Watertown.
Sample 1
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Sick Leave Pay at Retirement. At the time of retirement of employment, if an employee has accumulated sick leave, the Board will pay a bonus as follows: Sick Leave Hours Lump Sum Payment 400 hours $900 536 hours $1,200 664 hours $1,500 800 hours $1,800 920 hours $2,100
Sample 1
Sick Leave Pay at Retirement. To be eligible to receive pay under this section, a bargaining unit employee must have worked a minimum of 20 years of continuous full time service with the Village, submit an application and be approved for retirement benefits to the Illinois Municipal Retirement Fund. Employees retiring from the Village shall receive an amount equal to one (1) hour of pay at their regular rate of pay for each two (2) hours of accumulated sick leave after electing one of the following:
Sample 1

Related to Sick Leave Pay at 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.

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

  • Vacation Pay on Retirement Termination is as follows:

  • 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.

  • Sick Leave Payoff Employee with accrued, unused sick leave may, at the time of separation, select one of the following options for reimbursement:

  • 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 Payment Any employee, at his/her option may choose to receive payment for sick leave earned during the year which is unused at the end of the year. Any such payment must be for the total number of unused sick leave hours earned during the year, must be based on the hourly rate of pay of the employee multiplied by 50 percent, and all hours for which payment is received must be deducted from the employee’s accumulated leave balance. Sick leave used during a current year will be charged against the most recently earned sick leave. Hourly rate of pay is the hourly rate at the end of the contract year.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • Pre-Retirement Leave An employee scheduled to retire and to receive a superannuation allowance under the applicable Superannuation Act(s), or who has reached the mandatory retiring age, shall be entitled to:

  • Sick Leave Benefit There are two types of sick leave benefits. Annual sick leave is the sick leave days credited each year to each employee in accordance with the provisions of the local collective bargaining agreements. Banked sick leave is previously accumulated unused sick leave to which unused annual sick leave may be added at the end of each anniversary year.

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