XXXXXXXXX PAY POLICY. A. Upon an employee's death or retirement from the Western Reserve School System, said employee or his/her estate will receive severance pay. B. The employee must have eight (8) or more years of service with the state and/or any political subdivision, three (3) of which must be with the Western Reserve Local School District, to be paid in cash for one-fourth (¼ ) the value of his/her accrued, but unused sick leave credit up to a maximum of sixty (60) days. An employee with twenty-five (25) or more years of service in the Western Reserve LSD will be paid for one half (½) the value of his/her accrued, but unused sick leave credit up to a maximum of one hundred and twenty (120) days. C. The payment shall be based on the employee's per diem rate of pay at the time of retirement (excluding extended time and supplemental salary) and eliminates all sick leave credit accrued, but unused by the employee at the time payment is made. D. An employee is eligible for severance pay only once. E. Documentation of death or retirement must be presented to the Treasurer before payment is made.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
