Common use of Unused Sick Days at Retirement Clause in Contracts

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. 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 o f $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. 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 utilizing the following formula: Accrued unused sick days (maximum of 240 days at 240) less sixty (60) days, the rate of remainder multiplied by $25 per day. Example Only: 240 days (max. Option B: Upon retirement, the district will utilize the employees unused sick ) z 60 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/day180 days x25.