Terminal Pay for Accumulated Sick Leave. The Board shall provide terminal pay only for accumulated sick leave earned in the Charlotte County School district to all employees upon the employee’s retirement through an approved Florida retirement system or Social Security or to the employee’s beneficiary if service is terminated by death. Such terminal pay may not exceed an amount determined as follows: During the first three (3) years of service, the daily rate of pay multiplied by thirty-five percent (35%) times the number of days of accumulated sick leave earned in the Charlotte County School District; during the next three (3) years of service, the daily rate of pay multiplied by forty percent (40%) times the number of days accumulated sick leave earned in the Charlotte County School District; during the next three (3) years of service, the daily rate of pay multiplied by fifty percent (50%) times the number of days of accumulated sick leave earned in the Charlotte County School District; and, during and after the thirteenth year of service, the daily rate of pay multiplied by one-hundred percent (100%) of the number of days accumulated sick leave earned in the Charlotte County School District. The District shall not allow the transfer of service- related sick leave from any other district or eligible government entity, in or outside of Florida, for any certified educators, represented in this contract, hired on or after September 24, 2014; nor shall such previous employer-related time be eligible for terminal pay through the District. The parties agree to participate in a “Special Pay Plan” for terminal pay as administered by Bencor. The terms and conditions shall be governed by the agreement between the Charlotte County School Board and Bencor dated December 18, 2001. Any changes shall be subject to negotiations with the CFEA.
Terminal Pay for Accumulated Sick Leave. A. The Board will provide terminal pay to an employee at early or normal retirement or to his/her beneficiary if service is terminated by death. Such terminal pay shall be an amount determined by the daily rate of pay of the employee at retirement or death multiplied by those percentages as outlined in Florida Statutes 1012.61(2) and 100% of the employee's accumulated sick leave days unless changed by future negotiations or law. The employee must leave the employment of the School Board directly into the Florida Retirement System in either early or normal retirement status.
Terminal Pay for Accumulated Sick Leave. In order to encourage and reward faculty members who exercise care in the maintenance of their personal health and job attendance, the College agrees to pay the faculty member upon retirement or termination, a portion of his or her unused sick leave credit. Also, in the event of the faculty member's death, the College agrees to pay to the faculty member's estate terminal pay to the maximum extent allowed by state law. Except as provided in the death benefit terminal pay above, such terminal pay shall be an amount determined as follows:
