Sick Leave Upon Retirement/ One Time 403B Payout. Upon retirement from teaching, in accordance with the rules and regulations of the MTRS, an employee with a minimum of ten (10) years of service in the Shrewsbury Public Schools, and who retires at the end of the school year shall be paid for unused accumulated sick days, at their per diem rate, up to but not in excess of thirty-five (35) days. To be eligible for sick leave buyback the employee must submit a letter of retirement by December 1 preceding the retirement. It is understood that an employee may still elect to retire at a time other than the end of the school year, but such employee shall not be eligible for sick leave buyback. Employees hired to commence work in the 2017-2018 school year and thereafter shall not be eligible for sick leave buy back upon retirement. Such employees shall be eligible to receive a one-time contribution to a 403(b) plan established pursuant to school department guidelines. Such contribution shall be made in the amount of $850 to be paid in the second October payroll in the year in which the teacher attains professional teacher status.
