Vacation Entitlement for Employees Retiring Sample Clauses

Vacation Entitlement for Employees Retiring. Employees actively at work who retire will receive vacation entitlement on the basis of not less than the entitlement they would have received in the calendar year had they reached their anniversary date before retirement.
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Vacation Entitlement for Employees Retiring. Employees actively at work who retire will receive vacation entitlement on the basis of not less than the entitlement they would have received in the calendar year had they reached their anniversary date before retirement. 1601.9 After twenty-five (25) years of continuous service, upon attainment of the following ages, receive the following paid additional vacation in the calendar year in which they reach: Supplementary Vacation 60 years of age - 1 additional week 61 years of age - 2 additional weeks 62 years of age - 3 additional weeks 63 years of age - 4 additional weeks 64 years of age - 5 additional weeks 1602 CONDITIONS OF PAYMENT Vacation with pay will be based on two point four percent (2.4%) of the previous year's gross earnings for each week of vacation, or forty-eight (48) hours at their regular rate, whichever is the greater. Vacation with pay will not be paid for absence periods due to discipline. In the event of illness or non-compensable accident, employees must have worked a minimum of seven hundred and fifty (750) hours in that year in order to qualify for vacation benefits. All hours paid for vacation, paid holidays and floating holidays, shall be counted when computing the seven hundred and fifty (750) hours to determine vacation eligibility. In such cases, vacation pay will be based on two point four percent (2.4%) of total earnings for each week of vacation entitlement, even though the two point four percent (2.4%) is less than the equivalent forty-eight (48) hours pay at straight time rate. Employees with less than seven hundred and fifty (750) hours may be given the option of taking their regular vacation entitlement with the reduced vacation pay or they may lump their vacation pay and take a reduced number of weeks. In all instances, employees must take off a minimum of two (2) weeks. Employees should indicate the number of weeks they intend to take off at the time this option is presented. NOTE: Option to Elect Vacation Pay-out: Refer to Letter of Understanding dated July 11, 2012.
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Related to Vacation Entitlement for Employees Retiring

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Non-Vested Retirement Gratuity for Teachers 1. The minimum years of service for retirement gratuity shall be defined as the lesser of the contractual minimal service requirement in the 2008-2012 collective agreement, or ten (10) years.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • 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.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Leave When Employment Terminates 31.7.1 Except as provided in sub-clause 31.7.3, when the employment of an employee is terminated for any reason, the employee or his estate shall, in lieu of earned but unused vacation leave, be paid an amount equal to the product obtained by multiplying the number of days of earned but unused vacation leave by the daily rate of pay applicable to the employee immediately prior to the termination of his employment.

  • Pre-Retirement Leave An employee scheduled to retire and to receive a superannuation allowance under the applicable Superannuation Act(s), or who has reached the mandatory retiring age, shall be entitled to:

  • Employee Termination A) Regular employees other than those serving a probationary period, shall give twenty-eight (28) calendar days written notice of termination to a representative designated by the Employer with the authority to accept such written notice.

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

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