Common use of Wellness Incentive Program Clause in Contracts

Wellness Incentive Program. Any full time employee leaving the employment of the Court upon service or disability retirement may receive payment for a portion of accrued sick leave credits at the time of separation. Part time employees may also participate on a proportional basis. The amount of this payment shall be equal to two and one half percent (2½%) of the sick leave credits at the time of separation times the number of whole years of continuous employment times the employee’s salary rate, exclusive of premiums or supplements, at the time of separation. Vested sick leave credits, as set forth under Civil Service Commission Rules, shall not be included in this computation. Example of Calculation: Employee A retires with 20 years of service. Employee A has a sick leave balance of 500 hours. Employee A has a base salary rate of $25.00 per hour at the time of separations. Wellness Incentive = 2.5% for each year of service X 20 years of service = 50% 50% X 500 hours = 250 hours. 250 hours X $25.00 (base salary at time of separation) = $6,250.00 The number of hours for which an employee may receive cash payments shall not exceed one thousand forty (1040) hours, including any vested sick leave. A wellness incentive bonus payment shall not be considered as part of an employee’s compensation for the purpose of computing retirement benefits.

Wellness Incentive Program. Any full time employee leaving the employment of the Court upon service or disability disabilit y retirement may receive payment for a portion of accrued sick leave credits at the time of separation. Part time employees may also participate on a proportional basis. The amount of this payment shall be equal to two and one half percent (2½%) of the sick leave credits at the time of separation times the number of whole years of continuous employment times the employee’s salary rate, exclusive of premiums or supplements, at the time of separation. Vested sick leave credits, as set forth under Civil Service Commission Rules, shall not be included in this computation. Example of Calculation: Employee A retires with 20 years of service. Employee A has a sick leave balance of 500 hours. Employee A has a base salary rate of $25.00 per hour at the time of separations. Wellness Incentive = 2.5% for each year of service X 20 years of service = 50% 50% X 500 hours = 250 hours. 250 hours X $25.00 (base salary at time of separation) = $6,250.00 The number of hours for which an employee may receive cash payments shall not exceed one thousand forty (1040) hours, including any vested sick leave. A wellness incentive bonus payment shall not be considered as part of an employee’s compensation for the purpose of computing retirement benefits.