Sick Leave Retirement Benefit. No employee shall be compensated directly for accrued but unused sick leave upon termination of employment; however, accrued sick leave may be converted to time worked for the purposes of retirement under the District's contract with PERS.
Sick Leave Retirement Benefit. 14:5:1 Any certified employee retiring with 20 or more years of service in the Xxxxxxxx Township School District, upon retirement in accordance with the TPAF or PERS regulations, shall receive the amounts as listed below for unused accumulated sick days that were earned in Xxxxxxxx Township. Effective on or after July 2, 2001 $100 per day with a $10,000 maximum for one (1) out of every two (2) days. Effective on or after July 1, 2004 $100 per day with a $11,000 maximum for one (1) out of every two (2) days. Effective on or after July 1, 2005 $100 per day with a $12,000 maximum for one (1) out of every two (2) days.
Sick Leave Retirement Benefit. Upon retirement from City service, an employee shall be entitled to compensation for one-fourth of the accumulated sick leave on the books at the time of such retirement, with a maximum payment equivalent to 200 hours pay for the 40 hour per week employees and 10 shifts for the 56 hour per week employees, at the employee’s option. Actual sick leave remaining on the books will be reported to PERS in accordance with PERS regulations governing the sick leave credit contract option. In no case will unearned sick leave be reported for the purpose of increasing the member’s retirement as prohibited by PERS. The date of disability retirement for employees may be established or determined to be effective prior to the expiration of sick leave benefits. In reporting the number of days of accumulated sick leave to PERS, the City shall obtain clarification from and comply with PERS regulations.
Sick Leave Retirement Benefit. 13.01 (a) At the time of retirement, a Member will be entitled to receive a cash payment equal to the Member’s accumulated sick leave credits (in hours) multiplied by one-half of the Member’s regular hourly wage rate in effect at the time of the Member’s retirement.
Sick Leave Retirement Benefit. For an employee retiring from the District with a minimum of eighteen (18) years continued service, the Board shall pay the employee $30.00 for each unused sick leave day not used for IMRF creditable years of service, up to a maximum of $5,100.00, provided that the employee has not received an increase in her/his total IMRF creditable earnings in excess of 6% for any year used to calculate the employee’s IMRF pension. Such payment will be made in a manner that does not make the payment IMRF- creditable earnings and for which the Board must pay an accelerated payment.
Sick Leave Retirement Benefit. Upon proper notice of retirement or other separation from employment with the District, an employee who has completed at least fifteen (15) years of service to the District and is immediately eligible to receive PERA benefits is also eligible to receive the following retirement or separation benefit: The District will make a direct payment to the employee’s MSRS Post-Retirement Health Care Savings Plan at the employee’s daily rate of pay for 100% of the employee’s accrued, unused sick leave days up to a maximum of 70 days. The total amount of the employee’s retirement or separation pay will be deposited directly into the retiree’s MSRS Post-Retirement Health Care Savings Plan account no later than 60 calendar days after the retiree’s effective date of retirement. The retiree will not receive any direct payment from the School District for severance pay. The retirement or separation benefit described in this section is in addition to the incentive leave described in Section 1 of this Article.
Sick Leave Retirement Benefit. Former Xxxxxxx-Xxxxxxx teachers hired before August 31, 2000, as well as any former Xxxxxxx-Xxxxxxx teachers retiring before June 30, 2022 will retire under the severance provisions outlined in this section.
Sick Leave Retirement Benefit. Upon the employee’s retirement under PERS/OPSRP, the City will make available the value of one-quarter (25%) of the employee’s combined Old and New sick leave balances or one- half (50%) of the employee’s New sick leave balance, with an 850-hour maximum, whichever is of greater benefit to the employee. The sick leave value is credited to the employee’s VEBA account toward the purchase of the City’s health insurance premium should the employee or eligible spouse/domestic partner choose this health insurance option as defined with ORS 243.303. This benefit may also be used to purchase insurance under the PERS Retiree Insurance Program. Any administrative fees charged to the City for the retiree to participate in the PERS Retiree Insurance Program will be paid by the retiree through a reduction in their sick leave retirement benefit. Alternatively, an employee who is eligible for full retirement under PERS with unreduced benefits due to age or length of service, but who retires from public service without immediately withdrawing PERS retirement benefits, may use this same credit toward the purchase of the City’s health insurance premium up to the limits of their federal Consolidated Omnibus Budget Reconciliation Act (COBRA) benefit. In such instance, the employee shall provide documentation to the Human Resources Department to demonstrate that s/he is eligible for full PERS retirement. The value of the sick leave described here is only available as a credit and cannot be redeemed or used in any way as a cash payment to the employee or the employee’s spouse or family. Because the sick leave credit under this provision is merely a match, it will not require sick leave to be used in exchange for VEBA credits and consequently will not reduce the number of hours that the City reports to PERS as unused sick hours upon retirement. Prospective retirees will need to contact PERS for information on PERS Retiree Insurance Program. At retirement, unused Sick-Old and Sick-New leave banks will be reported to PERS, and an employee’s benefits will be adjusted and calculated according to PERS regulations.
Sick Leave Retirement Benefit. During the period from July until (Local time) on December a Member who is eligible to receive an pension, and qualifies, will be entitled to receive one of: Schedule Schedule or the plan described in paragraph The existing Schedule and Schedule retirement leave programmes will be deleted from this Agreement effective December No Members will be entitled to receive either Schedule Ior Schedule unless they are eligible to do so, elect to do so and commence their retirement leave by (local time) on December Effective July a sick leave benefit for Members eligible to receive an pension will be introduced. This benefit will provide that: At the time of retirement, a Member will be entitled to receive a cash payment equal to the Member’s accumulated sick leave credits (in hours) multiplied by one-half of the Member’s regular hourly wage rate in effect at the time of the Member’s retirement. In addition, provided that the Member has provided at least days advance written notice of his or her retirement date to the Chief, the Member will also be entitled to cash payment equal to the Member’s accumulated sick leave credits (in hours) accumulated in the last thirty-six full calendar months immediately prior to retirement multiplied by one-half of the Member’s regular hourly wage rate in effect at the time of the Member’s retirement. In addition, the Member will be eligible for an individual Health Care Spending Account The will be used to reimburse retired Members for medical or dental expenses which meet Revenue Canada’s definition of an allowable deductible medical or dental expense. The amount of the will be to a maximum of per year (which cannot be carried over) for each individual eligible Member and will be limited to the five years immediately following the retired Member’s birthday. Eligibility for the does not survive the Member. The eligible expenses of the Member’s eligible spouse may also be claimed against the annual In order to receive reimbursementfrom the for eligible medical or dental expenses, the Member will be required to submit original receipts. The administration of the may be in accordance with the plan entered into between the Board and a third party. The Association will be provided with a copy of the plan, if applicable. Any Member who, within the last sixty days has elected to receive Schedule and has not yet started to receive the retirement leave as of today’s date (but may have commenced a leave in which they are using their existing ...
Sick Leave Retirement Benefit. (a) At the time of retirement, a Member will be entitled to receive a cash payment equal to the Member’s accumulated sick leave credits (in hours) multiplied by one-half of the Member’s regular hourly wage rate in effect at the time of the Member’s retirement. In addition, provided that the Member has provided at least days advance written notice of his or her retirement date to the Chief, the Member will also be entitled to cash payment equal to the Member’s accumulated sick leave credits (in hours) accumulated in the last thirty-six full calendar months immediately prior to retirement multiplied by one-half of the Member’s regular hourly wage rate in effect at the time of the Member’s retirement.
