Unused Sick Days. a. The employee shall be entitled to apply any or all of his/her accumulated sick leave days upon retirement for additional service credit with the Illinois Teachers’ Retirement System in accordance with the maximum amount of additional service credit allowable under applicable TRS rules and regulations. b. Upon retirement, the District shall pay for all accumulated unused sick leave days at a rate of $25 per day, provided the unused days are not applied to TRS service credit. The total amount paid shall not exceed $6,250. The amount shall be payable in the month of retirement. The teacher will be responsible for making the teacher’s total contribution to TRS for any payment made under this section; however, should this payment cause an increase of more than six percent in the teacher’s total creditable earnings for the final year of service when compared to the previous year’s creditable earnings, then the amount of excess of the six percent increase shall not be classified as creditable earnings and shall be paid in a lump sum payment during the payroll period immediately following the teacher’s last day of service and after receiving his or her final paycheck.
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Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
