Xxxxxxxxx Pay (Conversion of Sick Leave Accumulation). A teacher in the Springfield City Schools who retires from active service with the Springfield City Schools with ten or more years of service with the state, and political subdivisions, or any combination thereof, may at the time of retirement (defined as being retirement based on active service, not disability, and the filing and approval of an application for retirement by the Ohio State Retirement Systems) elect to be paid for one-fourth (1/4) the value of his/her accrued but unused sick leave credit with the following limitations: 1. Payment shall be based on the teacher's daily rate of pay at the time of retirement. Daily rate shall be based on the final annual salary of the teacher with the district as shown on the regular contract or salary notice, excluding any pay for supplemental duties or extended service. 2. Severance pay shall be paid for one-fourth (1/4) of accrued but unused sick leave. The maximum number of days for which severance pay shall be paid is sixty three and one quarter (63.25) days. If employee is at maximum accumulation of sick leave in the year in which teacher retires, and teacher does not use more than three (3) days of sick leave in the last year of employment, the teacher will receive twenty seven percent (27)% of the accumulated but unused sick leave days 3. The teacher must sign for the severance pay check certifying all eligibility criteria have been met. 4. Receipt of such payment for accrued but unused sick leave shall eliminate all sick leave credit accrued by the teacher. DocuSign Envelope ID: 22C4B649-47B2-43A6-94B5-1EF2E9B1A864 5. Any teacher who retires at the end of a regular school year shall collect his/her severance pay within seventy-five (75) days following retirement. 6. Severance pay will be paid to the estate or named beneficiary of a teacher who dies after becoming eligible for service retirement.
Appears in 4 contracts
Samples: Professional Agreement, Professional Agreement, Professional Agreement
