Terminal Pay/Sick Leave. To encourage and reward personnel who exercise particular care in the maintenance of their personal health and job attendance, the School Board will provide terminal pay at resignation, normal retirement, or to their beneficiaries if services are terminated by death. For employees hired in any full time position, terminal pay shall not exceed an amount determined as follows: A. During the first three years of service, the daily rate of pay multiplied by 35 percent times the number of days of accumulated sick leave; B. During the next three years of service, the daily rate of pay multiplied by 40 percent times the number of days of accumulated sick leave; C. During the next three years of service, the daily rate of pay multiplied by 45 percent times the number of days of accumulated sick leave; D. During the next three years of service, the daily rate of pay multiplied by 50 percent times the number of days of accumulated sick leave; and E. During and after the 13th year of service and until when first eligible for normal retirement, the daily rate of pay multiplied by 100% times the number of days of accumulated sick leave. Thereafter, the daily rate will remain frozen at the rate when first eligible for normal retirement. In no case, however, shall an employee whose daily rate has been frozen, pursuant to this provision, receive less than the amount determined in D above. Provisions for terminal pay at resignation apply only to those sick leave days accrued after July 1, 1982. Payment for the resignation and retirement benefit will be made on or before September 1 of the following fiscal year. Resignation or retirement as referred to herein shall mean termination of employment by action of the employee. Such termination excludes resignation or retirement after a recommendation for dismissal, or resignation or retirement after participation in a work stoppage, job action, or strike, in the absence of specific approval by the School Board.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
