Sick Leave Payout at Retirement. Upon retirement, the Cities shall credit the unused sick leave to increase retirement benefits under PERS, as provided in ORS 237.153. For purposes of PERS sick leave fold-in, the sick leave cap in the PERS bank will be1,894 hours for 40 hour employees and 2,500 hours for 24 hour shift employees. For all twenty-four (24) hour shift employees, the Cities will maintain a separate tracking system for sick leave fold-in purposes in accordance with PERS guidelines. In the event that PERS changes their guidance for the accrual deductions the contract will be reopened for the purpose of negotiating the sick leave cap for PERS reporting.
Sick Leave Payout at Retirement. Subject to the following terms, all accumulated sick leave will be paid in a lump sum to the employee upon retirement.
Sick Leave Payout at Retirement. At the time of retirement from OP&F, any full- time employee with ten (10) or more years of service with the City shall be paid in cash for one- fourth (1/4) the value of the employee’s accrued but unused sick leave credit. The payment shall be based on the employee’s rate of pay at the time of retirement and eliminates all sick leave credit accrued but unused by the employee at the time payment is made. The value of accrued but unused sick leave credit that is paid shall not exceed the value of forty (40) days or 320 hours of accrued but unused sick leave.
Sick Leave Payout at Retirement. At the time of retirement from OP&F, any full-time employee with ten (10) or more years of service with the City shall be paid in cash for one-fourth (1/4) the value of the employee’s accrued but unused sick leave credit. The payment shall be based on the employee’s rate of pay at the time of retirement and eliminates all sick leave credit accrued but unused by the employee at the time payment is made. The value of accrued but unused sick leave credit that is paid shall not exceed the value of thirty (30) days or 240 hours of accrued but unused sick leave. City of Bellbrook – IAFF Contract December 1, 2014 through November 30, 2017 12-09-14 14-MED-05-0784
Sick Leave Payout at Retirement. Upon retirement under the provisions of the Michigan Public School Employees Act, employees who are eligible to begin drawing retirement benefits immediately and choose to do so shall be paid at their annual rate for any accumulated sick leave, up to 95 days. The number of days paid will increase to 110 days for employees who are at the maximum sick leave accumulation under Article 12, paragraph C of this agreement. Payment is subject to the following eligibility requirements:
