Common use of Sick Leave – Retirement Payout Clause in Contracts

Sick Leave – Retirement Payout. In the event of the death or retirement of an employee who has completed ten (10) or more years of continuous service with the City, the employee shall be paid or shall receive to his/her benefit, fifty percent (50%) of his/her accumulated but unused sick leave, not to exceed four- hundred-eighty (480) hours. The employee may elect not to receive this benefit and instead place all sick leave hours into the CalPERS sick leave conversion benefit, or the employee may do a combination of both; to receive a payout of up to fifty percent (50%) of his/her accumulated but unused sick leave not to exceed four hundred eighty (480) hours with the balance placed into the CalPERS sick leave conversion benefit.

Sick Leave – Retirement Payout. In the event of the death or retirement of an employee who has completed ten (10) or more years of continuous service with the City, the employee shall be paid or shall receive to his/her benefit, benefit fifty percent (50%) of his/her accumulated but unused sick leave, leave not to exceed four- four-hundred-eighty (480) hours. The employee may elect not to receive this benefit and instead place all sick leave hours into the CalPERS sick leave conversion benefit, or the employee may do a combination of both; , to receive a payout of up to fifty percent (50%) of his/her accumulated but unused sick leave not to exceed four hundred eighty (480) hours with the balance placed into the CalPERS sick leave conversion benefit.

Sick Leave – Retirement Payout. In the event of the death or retirement of an employee who has completed ten (10) or more years of continuous service with the City, the employee shall be paid or shall receive to his/her benefit, benefit fifty percent (50%) of his/her accumulated but unused sick leave, leave not to exceed four- hundredfour-hundred- eighty (480) hours. The employee may elect not to receive this benefit and instead place all sick leave hours into the CalPERS sick leave conversion benefit, or the employee may do a combination of both; , to receive a payout of up to fifty percent (50%) of his/her accumulated but unused sick leave not to exceed four hundred eighty (480) hours with the balance placed into the CalPERS sick leave conversion benefit.

Sick Leave – Retirement Payout. In the event of the death or retirement and the completion of an employee who has completed ten (10) or more years of continuous service employment with the City, the employee XXXXXXX XXXXXX shall be paid or shall receive to his/her benefit, a benefit of fifty percent (50%) of his/her accumulated but unused sick leave, not to exceed four- hundred-eighty (480) hours. The employee She may elect not to receive this benefit and instead place all sick leave hours into the CalPERS sick leave conversion benefit, or the employee XXXXXXX XXXXXX may do a combination of both; to receive a payout of up to fifty percent (50%) of his/her accumulated but unused sick leave not to exceed four hundred eighty (480) hours with the balance placed into the CalPERS sick leave conversion benefit.