Common use of Terminal Benefits Clause in Contracts

Terminal Benefits. All sworn employees of the Cincinnati Police Department will be paid all terminal benefits in a lump sum payment, upon resignation, dismissal, layoff, or military separation, however, in the case of a retirement, the member shall be permitted to exercise his/her choice of the two options stated in the "forced retirement" provision of this section, except that a lump sum payment for sick time will be made in accordance with the SWP-R provision for a lump sum payment. Any sworn employee of the Cincinnati Police Department, who prior to October 1, 1989, was a sworn employee of the Cincinnati Park Police and who is retaining membership in the City of Cincinnati Retirement System is eligible for terminal benefits outlined in this section. The lump sum payment shall be made at the rate of pay in effect on the employee's last day in a pay status and shall include payments for unused vacation and compensatory time, SWP-R, and longevity pay. The amount so accepted by members of the City of Cincinnati Retirement System shall be included in calculating the employee's earnings for pension purposes subject to the limitations of Section 203 of the Cincinnati Municipal Code. The lump sum payment will be subjected to the usual taxes and retirement deductions will be made. All retirements in the City Retirement System will become effective the first of the month following the month in which the employee was last in a pay status. Cincinnati Police Department: The lump sum payment shall be made at the rate of pay in effect on the employee's last day in a pay status and shall include payment for unused vacation and compensatory time, SWP-R, and longevity pay. The amount so accepted shall be included in calculating the employee's earnings for pension purposes subject to the limitations of the Ohio Police and Firemen's Disability and Pension Fund. The lump sum payment will be subjected to the usual taxes and retirement deductions will be made. All retirements will be made effective the day after the employee's last day on the payroll.

Terminal Benefits. ‌ All sworn employees of the Cincinnati Police Department will be paid all terminal benefits in a lump sum payment, upon resignation, dismissal, layoff, or military separation, however, in the case of a retirement, the member shall be permitted to exercise his/her choice of the two options stated in the "forced retirement" provision of this section, except that a lump sum payment for sick time will be made in accordance with the SWP-R provision for a lump sum payment. Any sworn employee of the Cincinnati Police Department, who prior to October 1, 1989, was a sworn employee of the Cincinnati Park Police and who is retaining membership in the City of Cincinnati Retirement System is eligible for terminal benefits outlined in this section. The lump sum payment shall be made at the rate of pay in effect on the employee's last day in a pay status and shall include payments for unused vacation and compensatory time, SWP-R, and longevity pay. The amount so accepted by members of the City of Cincinnati Retirement System shall be included in calculating the employee's earnings for pension purposes subject to the limitations of Section 203 of the Cincinnati Municipal Code. The lump sum payment will be subjected to the usual taxes and retirement deductions will be made. All retirements in the City Retirement System will become effective the first of the month following the month in which the employee was last in a pay status. Cincinnati Police Department: The lump sum payment shall be made at the rate of pay in effect on the employee's last day in a pay status and shall include payment for unused vacation and compensatory time, SWP-R, and longevity pay. The amount so accepted shall be included in calculating the employee's earnings for pension purposes subject to the limitations of the Ohio Police and Firemen's Disability and Pension Fund. The lump sum payment will be subjected to the usual taxes and retirement deductions will be made. All retirements will be made effective the day after the employee's last day on the payroll.