TERMINAL LEAVE COMPENSATION. The parties hereto agree that the employees covered by this Agreement shall be considered engaged in the type of work and classification as set forth on Schedule A attached hereto and made a part hereof by reference. Also, in addition, in recognition of service to the district, each employee upon termination from the Xxxxx Public Schools shall be paid a terminal leave payment of $90 per year for each year of service to the district, provided the employee has been employed by the district in Food Service for at least ten (10) consecutive years. For each year in which the employee uses 50% or less of earned sick leave, an additional payment of $90 per year shall be paid to the employee.
TERMINAL LEAVE COMPENSATION. X. Xx employee who notified the Board in writing on or before January 2nd of any year, of their intention to retire at the end of that school year, and who actually files a retirement paper with the N.J. State Retirement System, shall be entitled to receive a Terminal Leave Compensation computed at the salary rate earned during the final year of employment at 1/200 of such annual salary, at the rate of one (1) day’s pay per each unused, accumulated sick leave day to a maximum of one hundred and fifty (150) days to be paid out in equal payments over a three (3) year period. Twelve (12) month employees shall be paid at a 1/240 of their annual salary.
B. If the employee intends to retire within the contract period (3 years) they must notify the Board of their intention with the stipulation that they may rescind their intention. If the employee has accumulated less than fifty (50) sick leave days, an employee shall receive one payment.
C. Any employee hired after July 1, 2012, who upon retirement from the New Jersey State Retirement System, shall be entitled to be compensated for all accumulated, accrued unused sick days up to $15,000.
TERMINAL LEAVE COMPENSATION. Any administrator who notifies the Board in writing on or before January 30th of any school year, of their intention to retire on or before the end of that school year, and who actually files a retirement paper with the N.J. State Retirement System, shall be entitled to receive a Terminal Leave Compensation computed at the salary rate of one day’s pay per each unused accumulated sick leave to a maximum of one hundred and sixty (160) days. Employees shall be paid at 1/240 of their annual salary. In this case, the first annual payment shall be made between July 1st and June 30th of the budget year immediately following retirement. An administrator who fails to provide written notice and who fails to file the retirement paper by January 30th of the school year shall not receive the first annual payment until between July 1st and June 30th of the second budget year after notification of retirement. Pursuant to N.J.S.A. 18A:30-3.6, any administrator hired after July 1, 2012, who notifies the Board in writing on or before January 30th of any school year, of their intention to retire on or before the end of that school year, and who actually files a retirement paper with the N.J. State Retirement System, shall be entitled to receive Terminal Leave Compensation computed at the salary earned during the final year of employment “at a rate of” one day’s pay per each unused accumulated sick leave to a maximum of $15,000. In this case, the first annual payment shall be made between July 1st and June 30th of the budget year immediately following retirement. An administrator who fails to provide written notice and who fails to file the retirement paper by January 30th of the school year shall not receive the first annual payment until between July 1st and June 30th of the second budget year after notification of retirement. Effective July 1, 2015, new administrators hired with an effective date of hire on or after July 1, 2015, who notifies the Board in writing on or before January 30th of any school year, of their intention to retire on or before the end of that school year, and who actually files a retirement paper with the N.J. State Retirement System, shall be entitled to receive a terminal leave compensation computed at the salary rate earned during the final year of employment with 12 month employees calculated at 1/260th of their annual salary and 10 month employees calculated at 1/220th of their annual salary. The $15,000 maximum under N.J.S.A. 18A:30-3.6 applies...
TERMINAL LEAVE COMPENSATION. All full-time employees shall receive at time of retirement from the School District terminal pay for each day of unused, accumulated sick leave according to the following schedule: $20.00 per day with a maximum of $3,800.00. Minimal terminal pay shall be $600 irrespective of the number of unused sick leave days remaining. In order to be eligible the employee must be retired under the provisions of the Michigan Public School Employees Retirement Act, and have worked a minimum of ten (10) years in the Marysville Public Schools District. A full-time employee who dies while employed by the School District and who meets the time requirements set in the above paragraph will be eligible for the same benefits as employee retiring. The maximum terminal pay allowed on the above schedule will be paid the beneficiary.
TERMINAL LEAVE COMPENSATION. An employee who notified the Board in writing on or before January 2nd of any year, of their intention to retire at the end of mat school year, and who actually files a retirement paper with the N.J. State Retirement System shall be entitled to receive a Terminal Leave Compensation computed at the salary rate earned during the final year of employment at 1/220 of such annual salary, at the rate of one (1) day's pay per each unused, accumulated sick leave day to a maximum of one hundred and fifty (150) days to be paid out in equal payments over a three (3) year period. If the employee intends to retire within the contract period (3 years) they must notify the Board of their intention with the stipulation that they may rescind their intention. Any LTCSTA employee who has less than 10 years of service with the Lacey Township Board of Education, effective June 30, 2015, upon retirement, from the New Jersey State Retirement System, shall he entitled to be compensated for all accumulated, accrued unused sick days up to $15,000. All LTCSTA employees who have reached 10 years of service effective June 30, 2015, shall be capped at their current accrued unused sick day compensation total.
TERMINAL LEAVE COMPENSATION. 1. If a member retires without having used all of his/her sick leave, he/she shall be entitled to receive a one-time lump sum terminal leave payment as hereinafter calculated, subject to the limitations set below.
a. For terminal leave purposes only, the daily rate of pay shall be determined by dividing the member's 1993 annual salary by 260.
2. Criteria for payment of $22,500.
a. Hired prior to January 1, 1985 – 150 Days Needed
b. Hired after January 1, 1985 - 160 Days Needed 3. Criteria for payment in addition to $22,500 a. For members hired before January 1, 1985 DAYS COMPENSATION PER DAY 151 & above $100.00
TERMINAL LEAVE COMPENSATION. A. A Retirement Allowance of one-fourth (1/4) of reg liar dai Iy wage earned during the year of retirement for all accumulated s ck leave wi II be paid to the employee who retires and, provided, the employe meets the minimum requirements for retirement under the provisions of the Mi higan Publ ic School Employees Act, and has worked a minimum of ten (10) years n the Marysvi IIe Publ ic Schools District. The maximum payment under this A ticle shall be: $2,600 1990-91 $2,700 1991-92 $2,800 1992-93 $2,900 1993-94
B. A secretary who dies whi Ie employed by the School District and meets the time requirements set in Paragraph A of Article XV wi I be eligible for the same benefits as a secretary retiring. The terminal p y in such cases wi II be paid to a beneficiary designated by the employee.
TERMINAL LEAVE COMPENSATION. A. Council members, upon retirement or when leaving after thirteen (13) continuous years of service in the system, or their estate upon death, shall receive terminal leave pay as follows:
1. One half (1/2) day's pay for each accumulated sick day. A day's pay is defined as 1/30th of 1/10th or 1/300th of the member's final salary.
2. Such payment, up to the sum of $8,000.00 shall be made no later than August 15 of said year. If terminal leave compensation exceeds $8,000.00 the Council member shall submit in writing the option of choosing from the following payment schedules:
(a) The total remaining sum shall be paid by July 15 of the year following the Council member's leaving, or
(b) The total remaining sum shall be made in equal annual payments over a period of time between two (2) and four (4) years following the Council member's leaving, to be determined by the Council member. Such payments will be made by July 15 of each year.
B. The estate of a Council member who dies during the duration of this agreement shall receive terminal leave pay for sick days accumulated, computed on the same basis as outlined in Paragraph (A) of this section. For the last year’s employment, the number of accumulated days shall be pro rated by the number of months in the contractual year added to the accumulated days of the prior year’s calendar. The number of days shall be defined by the number of salaried days worked, divided by the number of contractual days. A decimal shall be rounded up to the next whole number.
TERMINAL LEAVE COMPENSATION. All full-time employees shall receive at time of retirement from the School District terminal pay for each day of unused, accumulated sick leave according to the following schedule: Minim:Jl terminal pay shall be $600 irrespective of the number of unused sick leave days remainin g. In order to be eligible the employee must be retired Under the provisions of the Michigan Public School Employees Retirement Act, and have worked a minimum often (10) years in the Marysville Public Schools District. A full-time employee who dies while employed by the School District and who meets the time requirements set in the above paragraph will be eligible for the same benefits as employee retiring. The maximum terminal pay allowed on the above schedule will be paid the beneficiary.
TERMINAL LEAVE COMPENSATION. (a) Terminal leave compensation shall be paid to Unit members upon death or resignation after 15 years of service in the North Bergen School System. Such payments, up to the sum of $10,000, shall be made no later than August 15 of said year. If terminal leave compensation exceeds $10,000, the Unit member shall submit in writing the option of choosing from the following payment schedules.
(1) The total remaining sum shall be paid by July 15 of the year following the Unit member’s leaving, or
(2) The total remaining sum shall be made in equal annual payments over a period of time between 2-4 years following the Unit member’s leaving, to be determined by the Unit member. Such payments will be made by July 15 of each year.
(b) Terminal leave compensation shall be computed as follows: one-half day’s pay for each accumulated sick day. Xxx’s pay is defined as 1/300 of teacher’s final contractual salary.
(c) If a member should die during the duration of this contract, and was eligible to receive terminal leave compensation under Paragraphs (a) and (b) of this item, the estate shall receive the terminal leave compensation computed pursuant to this paragraph.
