Unused Sick Days at Retirement. Upon retirement, an employee may choose either option for the use of unused sick days:
Option A: The employer agrees to compensate the employee, at retirement, for unused sick days accrued up to a maximum of 240 days at the rate of $25 per day.
Option B: Upon retirement, the district will utilize the employees unused sick days to maximize the benefit for the employee under section 41-j. A unit employee may convert all unused accumulation that is not utilized under Section 41-j of the NYSERS to a cash stipend at the rate of $30/day.
Unused Sick Days at Retirement. For full-time custodial employees retiring on July 1, 2004 or after, the following choices would be offered for the use of unused sick days:
Option A: The employer agrees to compensate the employee, at retirement, for unused sick days multiplied by $25 per day. The maximum of accrued unused sick day is 240.
Option B: Upon retirement, the district will utilize the employees unused sick days to maximize the benefit for the employee under section 41-j. A unit employee may convert all unused accumulation that is not utilized under Section 4-j of the NYSERS to a cash stipend at the rate of $30/day.
Unused Sick Days at Retirement. When a unit member retires from the district, and has applied for, and is eligible for retirement benefits from the New York State Employees’ Retirement System, the district shall provide a stipend for each day of unused accumulated sick leave up to a maximum of 180 days as follows: In order to be eligible for the Service Increment the unit member shall submit a written notice of their intent to retire. For unit members who wish to retire at the end of the school year, notice must be given to the District on or before January 31 of that school year. For those unit members who wish to retire during a school year but before June 30, one hundred twenty (120) days notice must be given to the Superintendent no later than December 15 of that school year. The District will hold the notice of retirement until February 14 for retirements at the end of the school year, and two-weeks for notices submitted prior to December 15, after which the notice of intent to retire is irrevocable and will be acted upon by the Board of Education. Except as noted below, the unit member may change their date of retirement after filing the written notice of retirement with the Superintendent in the event the district offers a local retirement incentive or the district adopts an Early Retirement Incentive offered by the New York State Employees’ Retirement System (NYSERS). The unit member would be allowed to amend the retirement date to fall within the window of eligibility for the local or state retirement incentive. With the recommendation of the Superintendent and approval of the Board of Education, a unit member may rescind their notice of retirement in the event the unit member experiences an unforeseen circumstance or emergency (such as the death of a spouse), without losing their eligibility to receive the Service Increment in the future. The Board of Education will consider the unit member’s unforeseen circumstance or emergency and the recommendation of the Superintendent. The decision of the Board of Education will be final. In addition, the notification requirement as outlined in paragraph A will be waived upon acceptance of evidence of Tier reinstatement after January 31 of the school year by the Superintendent of Schools or the District offers a NYSERS retirement incentive. The number of unused sick days as of the last day of employment as a unit member in the district will be used for the determination of the service increment. Pursuant to regulations established by the I...
Unused Sick Days at Retirement. For employees who have worked at Xxxxxxxxxx-Xx Xxxx for a minimum of ten (10) consecutive years, who are eligible to receive their pension from N.Y.S.E.R.S., and for whom Xxxxxxxxxx-XxXxxx is their final employer, the District agrees to compensate the employee, at retirement, for unused sick days accrued. For employees retiring July 1,2004, or after, the following choices would be offered for the use of unused sick days:
Option A. The District agrees to compensate the employee, at retirement, for unused sick days multiplied by $25 per day. The maximum of accrued unused sick day is 240 days.
Option B. Upon retirement, the District will utilize the employees unused sick days to maximize the benefit for the employee under Section 41-j. A unit employee may convert all unused accumulation that is not utilized under Section 41-j of the NYSERS to a cash stipend at the rate of $30/day.
Unused Sick Days at Retirement. For employees who have worked at Jamesville-XxXxxx for a minimum of ten (10) consecutive years, who are eligible to receive their pension from N.Y.S.E.R.S., and for whom Xxxxxxxxxx-XxXxxx is their final employer, the District agrees to compensate the employee, at retirement, for unused sick days accrued.
Unused Sick Days at Retirement. A. A nurse who retires from District employment will have up to one hundred and sixty-five days (165) of his/her accumulated sick leave days applied as additional service credit in accordance with Retirement and Social Security Law section 75-i.
Unused Sick Days at Retirement. A driver who voluntarily resigns after ten
Unused Sick Days at Retirement. Payout of sick leave at retirement - For employees who have worked at J- D for a minimum often (10) consecutive years, who are eligible to receive their pension from N.Y.S.E.R.S., the District agrees to compensate the employee, at retirement, for unused sick days accrued, utilizing either option A or option B (employee’s choice):
Option A : Accrued unused sick days (maximum of 240) shall be paid at the rate of $25. Part-time employees’ accrued unused sick leave days will be pro-rated based on their levels of service throughout their employment in the District (maximum equivalent of 240) and paid at the rate of $25.
Unused Sick Days at Retirement. Payout of sick leave at retirement - For employees who have worked at J- D for a minimum often (10) consecutive years, who are eligible to receive their pension from N.Y.S.E.R.S., the District agrees to compensate the employee, at retirement, for unused sick days accrued, utilizing either option A or option B (employee’s choice): — Option A : Accrued unused sick days (maximum of 240) less sixty (60), the remainder multiplied by $25.00 per day: Example only:240 days (max.) -60 days 180 days x $25 $4,500 Option B: Upon retirement, the district will utilize the employee’s unused sick days to maximize the benefit for the employee under Section 41-j of the NYSERS. A unit employee may convert all unused accumulation that is not utilized under Section 41-j to a cash stipend at the rate of $20 per day.
Unused Sick Days at Retirement. 1. A bargaining unit member, who has been employed within the bargaining unit for 10 years or more, who is entitled to receive regular non-reduced retirement benefits under the New York State Retirement System shall be entitled to the following benefit, if such person submits an irrevocable and unconditional resignation on or before March 1 of any school year, effective the last day of such school year.
2. District agrees to pay to the retiring administrator the following percentage of salary for sick day payout: Number of sick days accumulated at time of Percent of Retiring Administrator’s Salary to retirement be paid. 20-50 days 5.0% 51-100 days 7.5% 101-150 days 11.5% 151-200 days 15% or $75 per day, whichever is greater 201-240 days 18% or $75 per day, whichever is greater Payment will be based on the administrator’s final year salary.
3. District agrees to negotiate a one-time incentive for administrators desiring to retire.
4. Effective July 1st 2011, the District will provide the following non-elective Employer 403(b) contribution:
a. The District agrees to make a non-elective employer contribution for those members of the Association, with an effective retirement date of July t " or later, and who avail themselves the District's negotiated retirement incentive and/or payment for accumulated leave days.
b. The contribution will be placed into a 403(b) program of the unit members choosing, subject to any restriction that the 403(b) program provider may place on said non-elective employer contributions. The contribution amounts for the retirement incentive and accumulated leave days are spelled out in the collective bargaining agreement.
c. The District will remit the contribution within thirty (30) days, following the retirement date.
d. The contribution shall be subject to the contribution limits as outlined in the Internal Revenue Xxxx.
e. For purposes of Tier 1 members with membership dates prior to June 17th, 1971, the employer contribution will be reported as non-regular compensation to the New York State Teachers' Retirement System.
f. In the event that the contribution exceeds acceptable contribution limits, the employer agrees:
i. To pay any excess over the limits as compensation to the employee in the year of retirement if such employee as a NYSTRS membership date prior to June 17th, 1971, or
ii. If the employee has a NYSTRS or NYSERS membership date subsequent to June 16th, 1971, to remit any remainder of the year(s) following retirement, t...
