Sick Leave Payments Upon Retirement Sample Clauses

Sick Leave Payments Upon Retirement. Employees who separate from city service due to retirement shall be compensated for twenty-five percent (25%) of their total unused sick leave accumulation, deposited into the employee’s Health Reimbursement Account (HRA) through Northwest Public Employees & Western States Police Trust. Compensation shall be based upon the employee’s salary at the time of separation and shall be subject to applicable withholding under state and federal law. For the purposes of the preceding sentences, retirement shall not include vested “out-of-service” employees who leave funds on deposit with the department of retirement systems (DRS). Employees who are choosing to retire and wish to receive a sick leave payment, must provide a resignation letter and appropriate documentation of their decision to retire to the city’s Administrative Services Department. Employees who separate from city service as the result of death shall be compensated for their total unused sick leave accumulation at the rate of one hundred percent. Compensation shall be based upon the employee’s salary at the time of separation.
Sample 1
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Sick Leave Payments Upon Retirement. Employees who separate from city service due to retirement with 10 or less years of service shall be compensated for twenty-five percent (25%) of their total unused sick leave accumulation at the time of separation. Employee who separate from city service due to retirement after 10 years shall receive 30%. Employees who separate from city service due to retirement after 15 years shall receive 40%. Employees who separate from city service due to retirement after 20 years shall receive 50%. Such funds shall be deposited into the employee’s Health Reimbursement Account (HRA) through Northwest Public Employees & Western States Police Trust. Compensation shall be based upon the employee’s salary at the time of separation and shall be subject to applicable withholding under state and federal law. For the purposes of the preceding sentences, retirement shall not include vested “out-of-service” employees who leave funds on deposit with the department of retirement systems (DRS). Employees who are choosing to retire and wish to receive a sick leave payment must provide a resignation letter and appropriate documentation of their decision to retire to the city’s Administrative Services Department. Employees who separate from city service as the result of death shall be compensated for their total unused sick leave accumulation at the rate of one hundred (100%) percent. Compensation shall be based upon the employee’s salary at the time of separation.
Sample 1

Related to Sick Leave Payments Upon 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.

  • Vacation Pay on Retirement Termination is as follows:

  • Vacation Pay Upon Termination When an employee in the bargaining unit is terminated for any reason, he/she shall be entitled to all vacation pay earned and accumulated up to and including the effective date of the termination.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • 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.

  • Vacation Credits Upon Death Earned but unused vacation entitlement shall be made payable, upon termination due to death, to the employee's dependent, or where there is no dependent, to the employee's estate.

  • Employee Compensation Upon Separation An Employee, upon her separation from employment, shall be compensated for vacation leave to which she is entitled.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

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