TERMINAL LEAVE. Any employee who is separated from State service for any reason including layoff shall receive within seven (7) days a lump sum payment for the number of hours of accrued annual leave at the employee's annualized hourly rate of pay.
TERMINAL LEAVE. 24.1. An employee covered by this Agreement, who retires under the provisions of the Employees Retirement System of Milwaukee, (but excluding retirement on deferred or actuarially reduced pensions, as they are defined under the System) shall, upon retirement, be entitled to a lump sum payment equivalent to one eight-hour work shift' s base salary for each eight-hour work shift equivalent of the employee' s earned and unused sick leave up to a maximum of thirty (30) eight-hour work shifts of pay.
24.2. Terminal leave compensation shall not be construed as affecting the employee' s pension benefits. Any payments made under the provisions of this Article shall not have any sum deducted for pension benefits nor shall the payments be included in establishing pension benefits or payments.
24.3. Terminal leave compensation benefits shall be made as soon as is administratively possible after the employee' s effective date of retirement.
24.4. An employee shall receive terminal leave compensation only once during his/her lifetime.
TERMINAL LEAVE. 1. An employee retiring on City pension under either the Employees' Retirement System of Milwaukee plan or the Policemen's Annuity and Benefit Fund plan (but excluding retirement on deferred pension when employee has less than 25 years' service or actuarially reduced pension, as they are defined in both plans) shall, upon retirement, be entitled to receive a lump sum payment equivalent to one eight-hour workday's base salary for each one eight-hour day of the employee's earned and unused sick leave up to a maximum of fifty-five (55) such equivalent eight-hour workdays of base salary. The term "eight-hour workday's base salary," as used herein, is defined as an amount equivalent to the employee's biweekly base salary, as defined and determined by the BASE SALARY Article of this Agreement, divided by 10.
2. When a terminal leave payment is paid to a deferred retiree with 25 or more years' service, the payment will be made on the deferred retiree's effective date of separation based on his/her pay rate and sick leave accumulation in effect at that time.
3. An employee shall be eligible to receive the terminal leave pay benefit only once during his/her lifetime.
4. Terminal leave payments shall not be construed as being part of employee's base salary and shall not be included in the computation of any fringe benefits enumerated in this Agreement.
5. Terminal leave payments shall not have any sum deducted for pension benefits nor shall such payments be included in any computation establishing pension benefits or payments.
TERMINAL LEAVE. Terminal leave shall be paid at sixty percent (60%) of the final rate of pay for a maximum of one hundred twenty (120) days of unused accumulated sick leave days accumulated prior to July 1, 2010, either to his/her estate upon death while in the Board’s employ, or upon retirement under the provisions of the Michigan Public Schools Employees' Retirement Act. Employees shall not receive any terminal leave pay for accumulated unused paid time off (PTO).
TERMINAL LEAVE. In case of an employee terminating services at any time after the employee has established eligibility for vacation benefits, the employee shall receive cash payment for whatever vacation that employee has accrued.
TERMINAL LEAVE. 1. Any teacher who is separated from State service for any reason including layoff shall receive within ten (10) days from the date of receipt of final time record, a lump sum payment, minus any required deductions, for any unused personal leave
2. If a teacher who resigned from State service returns to State service prior to the end of the period covered by the terminal leave, the employee may, at his/her option, refund to the State an amount equal to the compensation covering the period between the date of reemployment and the expiration of terminal leave. The hours of leave represented by this refund shall then be re-credited to the teacher’s personal leave account.
TERMINAL LEAVE. A. Eligibility will be governed by the following:
1. He/she must have eleven (11) or more years of service with the Pinconning Area Schools.
2. He/she must have been employed by the System for one or more years following ratification of this Agreement.
3. A teacher, who leaves the System before qualifying for terminal leave payments, shall forfeit all rights for payment. If a teacher is granted a leave of absence for one semester or more, then he/she shall not accumulate terminal payment time during the leave. However, time accumulated before or after a return from leave shall be considered terminal leave accumulated time.
B. Terminal leave pay shall be computed as follows:
1. Fifty Dollars ($50.00) shall be paid for each year of service up to a maximum of thirty (30) years.
2. The Board will pay Sixty Dollars ($60.00) for each day of accumulated sick leave.
3. In the event of death, all terminal leave benefits accumulated shall be paid to the teacher's designated beneficiary.
C. Terminal leave shall be paid in one of the 403 (b) options that are available through the District.
TERMINAL LEAVE. An officer may take terminal leave as provided below upon notice of retirement. An officer may elect to take terminal leave up to four hundred (400) hours. Upon
TERMINAL LEAVE. (Applicable only to Employees from the former Ottawa Silo who retire before year 2015) If any Employee before reaching his/her sixtieth (60th) birthday notified the Chief that the Employee desires to take terminal leave prior to the date of retirement, the Employee shall be entitled to use any accumulated but unused sick leave credits as leave of absence with full pay for such number of working days not exceeding one hundred and thirty (130) days immediately prior to the date of retirement. For the purposes of this Article, a day equates to annual salary divided by 261 days. The granting of such leave does not create a vacancy in the workforce until such time as the Employee commences his/her retirement. It is understood that any applicable promotions will be made to fill the rank that the Employee may have held upon the commencement of this leave. An Employee on terminal leave does not accumulate any of the following: sick leave, lieu days and uniform issue. Vacation leave will be pro- rated in accordance with Article 6.
TERMINAL LEAVE. Within sixty (60) calendar days of an employee’s effective date of retirement, said employee shall have the right to schedule up to sixty (60) calendar days of terminal leave, excluding scheduled days off, using accrued and unused compensatory or vacation leave that otherwise would be paid out at termination. Any leave time that would not be paid out at termination is not eligible for use in this terminal leave period.
