Vacation Cash-Out at Termination / Retirement - RHSP. Any unit employee who has completed at least one year of service with the City prior to termination shall be paid at the base hourly rate then being received for the vacation to which the employee would otherwise be entitled and also for vacation days earned by reason of months worked in the current calendar year, provided said vacation days have not been taken at or prior to the date of separation. Unit employees will have all of their accumulated vacation hours placed into their RHSP account upon their retirement. Further details on unused accumulated vacation leave and RHSP are set forth in Article Four of this agreement.
Vacation Cash-Out at Termination / Retirement - RHSP. Any unit employee who has completed at least one year of service with the City prior to termination shall be paid at the base hourly rate then being received for the vacation to which the employee would otherwise be entitled and also for vacation days earned by reason of months worked in the current calendar year, provided said vacation days have not been taken at or prior to the date of separation. Unit employees who terminate with less than twenty (20) years of service will have all of their accumulated vacation paid out upon separation. Unit employees who terminate after twenty (20) or more years of service, or retire will have all of their accumulated vacation hours paid into their RHSP account upon their retirement. Further details on unused accumulated vacation leave and RHSP are set forth in Article Four of this agreement.
Vacation Cash-Out at Termination / Retirement - RHSP. 1. Any unit employee who has completed at least one year of service with the City prior to termination shall be paid into the employee’s RHSP at the base hourly rate then being received for the vacation to which the employee would otherwise be entitled and also for vacation leave hours earned by reason of months worked in the current calendar year provided said vacation leave hours have not been taken at or prior to the date of separation.
2. Further details on unused accumulated vacation leave and RHSP are set forth in Article Four of this agreement.
Vacation Cash-Out at Termination / Retirement - RHSP. Unit employees who leave City employment (for any reason, including retirement) shall have the following options available to them regarding the value of their vacation hours:
1. They can cash out their vacation hours at their base hourly rate and have it paid in the final paycheck.
2. They can make an irrevocable election in the calendar year prior to leaving City employment that they choose to have the all or a portion of all of the funds from the value of their vacation (at their base hourly rate) placed into their RHSP account at the time of separation. To exercise this option, in making their irrevocable election in the calendar year prior to separation, employees must specify exactly how many of their final vacation hours they choose to deposit into their RHSP account.
