Vacation/Compensatory Time Off Cash –Out During Employment Sample Clauses

Vacation/Compensatory Time Off Cash –Out During Employment. Any unit employee who has completed at least one year of service with the City may cash out up to 40 hours of either vacation, compensatory time off or a combination of both. Each employee may cash out up to forty (40) hours one time per fiscal year. If the employee cashes out vacation, it will be cashed out at the base rate of pay. If the employee cashes out compensatory time off, it will be cashed out at the regular rate of pay. Effective for calendar year 2021 and every year thereafter: By December 15 (the first year being 2020) of each year, employees may make an irrevocable election to cash out up to 40 hours of vacation which they can accrue per year which will be earned in the following calendar year (or 40 hours of compensatory time off which they may earn in the following year) at the employee’s base rate of pay (and at the regular rate of pay for cash out of compensatory time off). In the following year, the employee can receive the cash for the leave they irrevocably elected to cash out in the first pay period of December. If an employee’s vacation or compensatory time off leave balance is less than the amount the employee elected to cash out (in the prior calendar year) the employee will receive cash for the amount of leave the employee has accrued at the time of the cash out. If an employee makes an irrevocable election to cash out vacation or compensatory time off in the following calendar year and uses such leave in that subsequent year, the vacation or compensatory time off leave used will come from the leave the employee had earned prior to January 1 of the year the employee has elected to cash out vacation or compensatory time off. This is to ensure that assuming an employee had a vacation leave or compensatory time off balance prior to January 1, the leave used will not result in a reduction in the amount of leave the employee will be eligible to cash out. In addition to the above, starting in calendar year 2021, an employee who has an “unforeseen emergency” (defined as an unanticipated emergency that is caused by an event beyond the control of the employee and that would result in severe financial hardship to the employee if early withdrawal were not permitted) shall be entitled to make a request to the Director of Human Resources for a payoff of accrued vacation or compensatory time off of up to a total of 40 hours. Further details on unused accumulated vacation leave and RHSP are set forth in Article Four of this MOU.
Sample 1
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Vacation/Compensatory Time Off Cash –Out During Employment. Any unit employee who has completed at least one year of service with the City may cash out up to 40 hours of either vacation, compensatory time off or a combination of both. Each employee may cash out up to forty (40) hours one time per fiscal year. If the employee cashes out vacation, it will be cashed out at the base rate of pay. If the employee cashes out compensatory time off, it will be cashed out at the regular rate of pay. Unit employees will have all of their accumulated vacation hours placed into their RHSP account upon their retirement. (Unit employees with less than twenty (20) years of full-­‐ time service with the City who separate for any reason other than retirement shall have their vacation hours cashed out at the base hourly rate and paid in the final paycheck). Further details on unused accumulated vacation leave and RHSP are set forth in Article Four of this Agreement.
Sample 1

Related to Vacation/Compensatory Time Off Cash –Out During Employment

  • Sick Leave Separation Cash Out At the time of retirement from state service or at death, an eligible employee or the employee’s estate will receive cash for their compensable sick leave balance on a one (1) hour for four (4) hours basis. For the purposes of this Section, retirement will not include “vested out of service” employees who leave funds on deposit with the retirement system.

  • Sick Leave Cash Out Eligible employees may elect to receive monetary compensation for accrued sick leave as follows: In January of each year an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. No sick leave hours may be converted which would reduce the calendar year end balance below four hundred eighty (480) hours. Monetary compensation shall be paid at the rate of twenty-five percent and shall be based on the employee’s current salary. All converted hours will be deducted from the sick leave balance. Employees who separate from University service due to retirement or death shall be compensated for the unused sick leave accumulation from the date of most recent hire in a leave eligible position with the State of Washington at the rate of 25%. Compensation shall be based upon the employee’s wage at the time of separation. For the purpose of this section, retirement shall not include vested out of service employees who leave funds on deposit with the retirement system. Former eligible employees who are re-employed within three (3) years of their separation from service shall be granted all unused sick leave credits, if any, to which they are entitled at time of separation.

  • Compensatory Time Off Utilization of compensatory time off shall be by mutual agreement between the department head and the employee. The smallest increment of compensatory time which may be taken off is six (6) minutes.

  • Vacation Cash Out In each calendar year, an employee may make a one-time request to cash out and receive payment for up to forty (40) hours of vacation. In order to be eligible to cash out vacation hours, the employee must be a regular status employee and have a remaining vacation balance of sixty (60) hours or more. Vacation leave that has been pre-approved will be considered when the request is made in order to determine if they will maintain the minimum vacation balance requirement.

  • Sick Leave Incentive The City will institute a sick leave incentive based on the usage of the bargaining unit; further, the City will pay each person who qualifies during January of each year. The incentive will be calculated and monitored by the Personnel Department and will be based on the pay periods during a calendar year. The incentive shall be awarded only when the bargaining unit's average sick leave usage is less than the City average and the following conditions are met: When the bargaining unit's sick leave usage is greater than forty (40) hours but less than the City average, the City will pay each member using between zero (0) and sixteen (16) hours of sick leave, eight (8) hours pay and any member using more than sixteen (16) but equal to or less than twenty-four (24) hours, four (4) hours pay. When the bargaining unit's average sick leave usage is equal to or less than forty (40) hours, the City will pay each member who used between zero (0) and sixteen (16) hours, sixteen (16) hours of pay at their current hourly rate. Those members who used more than sixteen (16) but equal to or less than twenty-four (24) hours, will receive eight (8) hours of pay.

  • Accrued 100% sick leave The use of sick leave under this subsection is at the employee's discretion.

  • Death During Benefit Period If the Executive dies after the benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive's beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Bereavement During Vacation Where an employee's scheduled vacation is interrupted due to a bereavement, the employee shall be entitled to bereavement leave in accordance with Article 12.

  • Death During Employment If the Executive dies during the term of employment and has not attained the age of seventy years, the Corporation and/or any third party insurance provided by the Corporation, through a coordination of benefits, shall pay the estate of the Executive a death benefit equal to two times the Executive's annual salary. In the event the Executive receives death benefits payable under any group life insurance policy issued to the Corporation, the Corporation's liability under this clause will be reduced by the amount of the death benefit paid under such policy. The Corporation shall pay any remaining death benefits to the estate of the Executive over the course of twelve (12) months in the same manner and under the same terms as the Executive would have been paid if he had still been working for the Corporation. No later than one (1) month from the date of death, the estate of the Executive will also be paid any accumulated vacation pay. Such payments pursuant to this paragraph shall constitute the full compensation of said Executive and he and his estate shall have no further claim for compensation by reason of his employment by the Corporation.

  • Sick Leave Credit-Based Retirement Gratuities 1) A Teacher is not eligible to receive a sick leave credit gratuity after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day. 2) If the Teacher is eligible to receive a sick leave credit gratuity, upon the Teacher’s retirement, the gratuity shall be paid out at the lesser of, a) the rate of pay specified by the board’s system of sick leave credit gratuities that applied to the Teacher on August 31, 2012; and b) the Teacher’s salary as of August 31, 2012. 3) If a sick leave credit gratuity is payable upon the death of a Teacher, the gratuity shall be paid out in accordance with subsection (2). 4) For greater clarity, all eligibility requirements must have been met as of August 31, 2012 to be eligible for the aforementioned payment upon retirement, and the Employer and Union agree that any and all wind-up payments to which Teachers without the necessary years of service were entitled to under Ontario Regulation 01/13: Sick Leave Credits and Sick Leave Credit Gratuities, have been paid. 5) For the purposes of the following boards, despite anything in the board’s system of sick leave credit gratuities, it is a condition of eligibility to receive a sick leave credit gratuity that the Teacher have ten (10) years of service with the board: i. Near North District School Board ii. Avon Maitland District School Board iii. Xxxxxxxx-Xxxxxxxxx District School Board

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