Sick Leave Pay Out. Sick Leave pay out shall be paid out on a 7.5 hour day basis, same as sick leave. Employees shall be credited with 3 days x 7.5 hours or 22.5 hours per year where no illness occurred.
Sick Leave Pay Out. At the time of retirement, employees with ten (10) or more years of public service within the State of Ohio will be compensated for not more than one-fourth (1/4) the value of accrued but unused sick leave. The maximum payment shall be 240 hours. The rate of pay will be based on an employee's rate of compensation at the time of retirement. Acceptance of such payment shall eliminate all accumulated sick leave credit. Payments shall be deposited according to the employee's most recent payroll direct deposit instructions.
Sick Leave Pay Out. Teachers with at least fifteen (15) years of employment as a Teacher as defined in this Agreement with the School Corporation, and who are at least 55 years of age as of December 31 during the calendar year in which their employment ends, shall receive reimbursement for accumulated sick and personal business days at the rate of $50.00 per day for each day of accumulated sick or personal business days, up to a maximum of 330 days. The Corporation shall contribute the amount of the payout to the VEBA, for those Teachers hired before July 1, 1998 who are covered by the Corporation’s health insurance. The Corporation shall contribute the amount of the payout to the 401(a) for those Teachers hired before July 1, 1998 who are not covered by the Corporation’s health insurance. For those Teachers hired or rehired on or after July 1, 1998 (including all new hires), the Corporation shall contribute half the amount to each Teacher’s VEBA and half the amount to each Teacher’s 401(a).
Sick Leave Pay Out. In addition to the benefits provided in Sections 2 and 3 of this Article, a principal who qualifies for retirement under the terms of the Teacher Retirement Association shall be eligible to receive severance as pay upon his/her retirement the amount obtained by multiplying 50% of his/her unused number of sick leave hours times the principal’s hourly rate of pay up to 960 hours of accumulated sick leave. One-half of that amount shall be paid to a district-approved 401(a) or 403(b) account designated by the principal, no later than November 15 following retirement. The other one-half of that amount shall be paid to the principal’s Health Care Savings Plan (HCSP) account no later than November 15 following retirement.
Sick Leave Pay Out. In addition to the benefits provided in Section 2 and Section 4 of this Article, an employee who qualifies for retirement under the terms of PERA shall be eligible to receive as severance pay upon his/her retirement the amount obtained by multiplying (fifty percent) 50% of his/her unused number of sick leave hours times the employee’s hourly rate of pay. This amount shall be paid to a District-approved Special Pay Deferral Plan or 403(b) account no later than sixty (60) days following retirement.
Sick Leave Pay Out. An employee who is employed by the Rochester Community Schools for five (5) or more years and who retires (under MPSERS), resigns, is permanently laid off or dies will be compensated for unused sick leave days. Seventy-five percent (75%) of the employee’s current daily rate will be paid for fifty percent (50%) of the unused earned sick leave days. This payment will be paid on the last regular paycheck the employee receives or included under the provisions of Article 16(L), Special Pay Plan.
Sick Leave Pay Out. 22.10 Where an Employee dies or otherwise terminates his or her employment, the Employee or his or her estate shall be paid an amount equal to the product obtained by multiplying the number of days of earned but unused sick leave by one-quarter (¼) of the daily rate of pay applicable to the Employee immediately prior to the termination of his or her employment.
Sick Leave Pay Out. Employees who retire on pension or who voluntarily terminate their employment with the Employer, or who are permanently laid off from their employment with the Employer, shall upon termination or retirement be paid any sick leave accumulation they may have to their credit. Employees who have a sick leave credit balance in excess of twelve (12) days (eighty- four (84) hours), as of December 31st, 1987, and on each December 31st thereafter, shall receive a cash pay out to a maximum of six (6) unused sick leave days (forty-eight (48) hours), provided no employee's sick leave bank shall fall below twelve (12) days (ninety- six (96) hours), as a result of a cash pay out. Eligible employees shall receive a cash pay out prior to January 31st of each year.
Sick Leave Pay Out. In addition to the benefits provided in Section 2 and Section 4 of this Article, a director who qualifies for retirement under the terms of TRA or PERA shall be eligible to receive as severance pay upon his/her retirement the amount obtained by multiplying 50% of his/her unused number of sick leave hours times the director’s hourly rate of pay. One-half of that amount shall be paid to a District-approved Special Pay Deferral Plan or 403(b) account designated by the director, no later than sixty (60) days following retirement. The other one-half of that amount shall be paid as direct salary payment to the director no later than sixty (60) days following retirement.
Sick Leave Pay Out. All Employees are required to have a minimum of 10 days Sick Leave in their Sick Leave account each year. Any entitlement above 10 days may be paid out at the request of the Employee in December of each year. Any hours cashed in, are in exchange for the equivalent hours in sick leave.
