TERMINAL LEAVE PLAN (SECRETARY Sample Clauses

TERMINAL LEAVE PLAN (SECRETARY. At the time of retirement, the Board will pay the retiring secretary for unused accumulated sick day leave. Payment is to be made upon retirement under the provisions of the pension plan with pension payments to begin effective upon separation from the District. Early retirement prior to age fifty-five (55) or a deferred retirement is not eligible; however, a secretary who resigns, takes early retirement prior to age fifty-five (55) or takes a deferred retirement and has completed twenty (20) years of service in Millburn School District shall be eligible for payment under this Article. For secretaries eligible to retire who die prior to such retirement, payment of the entitlement at time of death shall be made to estate of deceased. In the event of termination due to reduction in force, a secretary involuntarily terminated shall be eligible for terminal leave payment under this Article. Payment for accumulated sick days shall be as follows per day for all accumulated sick days: 2008-2009 $52.00 2009-2010 $55.00 2010-2011 $58.00 A secretary, to be eligible for terminal leave payment under the provisions of this paragraph, must provide three (3) months notice in writing to the Superintendent of intention to retire. This requirement may be waived by the Superintendent in cases where retirement is due to disability or hardship.
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Related to TERMINAL LEAVE PLAN (SECRETARY

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