Annual Sick Leave Conversion definition

Annual Sick Leave Conversion. Eligibility for participating on an annual basis is limited to employees who have accumulated 180 days (or more if eligible) of unused sick leave. To be eligible during the term of the Plan, an employee must have earned at least 180 days of unused sick leave as of the effective date of a bargaining agreement or decision adopting this Plan.
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Annual Sick Leave Conversion. Eligibility for participation on an annual basis is limited to Principals who have accumulated one hundred eighty (180) days of unused sick leave. To be eligible during the term of this Agreement, a Principal must have accumulated at least one hundred eighty (180) days of unused sick leave as of the effective date of this Agreement. In order to administer the plan, the District will deposit all sick leave conversion funds to the credit of each participating employee in the VEBA III Trust for Employees of Public School Districts in the state of Washington. The Association and the District agree that the VEBA III plan will be administered in compliance with all laws and federal and state tax regulations. The Association agrees to waive any group or individual claims against the District relating to participation in this plan or to taxation of plan benefits, and to indemnify and to hold the District harmless for any taxes, assessments, or costs that may be incurred by participants in the plan, their heirs, or assigns. The District and the Association acknowledge that neither is providing any tax advice regarding participation in this plan.
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Examples of Annual Sick Leave Conversion in a sentence

  • The Association will elect to participate in VEBA (Voluntary Employee Benefit Association) for Annual Sick Leave Conversion and/or Retirement Sick Leave Conversion.

  • The district agrees to adopt the VEBA Retirement Sick Leave and Annual Sick Leave Conversion Plan.

  • See Form 41 in the Personnel Policies Manual “ Annual Sick Leave Conversion Request”.

  • Annual Sick Leave Conversion: Eligibility for participating on an annual basis is limited to employees who have accumulated 180 days (or more if eligible) of unused sick leave.

  • Annual Sick Leave Conversion: Effective the first pay period of each December, sick leave hours in excess of 650 in each employee’s leave balance shall be converted at the regular hourly rate and transferred to the ICMA Vantage Care Retiree Health Savings Plan.

  • Requests for annual conversion must be made no later than the end of the first full pay period in January by completing the Annual Sick Leave Conversion Request Form.

  • Employees who accrue sick leave in excess of 960 hours may request to covert the excess hours (see Annual Sick Leave Conversion) or the excess hours will be lost at the end of the year.

  • Section 23.4 Annual Sick Leave Conversion Employees who have completed their probationary period and who have used five (5) days (forty (40) hours) or less of sick leave per calendar year may elect to cash out up to five (5) days (forty (40) hours) which shall be paid in a lump sum during the month of January of the following year.

  • Requests for annual conversion to cash must also be made no later than the end of the first full pay period in January by completing the Annual Sick Leave Conversion Request Form and will be paid at the rate of pay as of the last day of the year in which it was accumulated.

  • Annual Sick Leave Conversion ­ Career service and designated appointed employees are eligible to participate in the following sick leave options.

Related to Annual Sick Leave Conversion

  • Current Sick Leave means those days of sick leave for the current contract year, which leave is granted at the rate of one day of sick leave per month worked, or major part thereof.

  • Paid sick leave – means paid leave under the Emergency Paid Sick Leave Act.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Child with a disability means a child who, by reason of any of the following, needs special education and related services:

  • converted employment and support allowance means an employment and support allowance which is not income-related and to which a person is entitled as a result of a conversion decision within the meaning of the Employment and Support Allowance (Existing Awards) Regulations 2008;

  • Share Termination Alternative If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Agreement, as applicable, in satisfaction of such Payment Obligation in the manner reasonably requested by Counterparty free of payment. Share Termination Delivery Property: A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the Share Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.

  • Extended benefit period means a period which:

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Disability retirement for plan 1 members, means the period

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • Long Term Dividend Period means a Special Dividend Period consisting of a specified period of one whole year or more but not greater than five years.

  • Statewide popular election means a general election in which

  • war disablement pension means any retired pay or pension or allowance payable in respect of disablement under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003;

  • Units serving lower income households means units that are occupied by lower income households at an affordable rent, as defined in section 50053 of the Health and Safety Code or, to the extent that the terms of federal, state, or local financing or financial assistance conflicts with section 50053, rents that do not exceed those prescribed by the terms of the financing or financial assistance. Effective October 13, 2017, pursuant to Revenue and Taxation Code section 214(g)(2)(A)(iii), a unit in a property that receives federal low income housing tax credits shall continue to be treated as occupied by a lower income household if the occupants were lower income households on the lien date in the fiscal year in which their occupancy of the unit commenced and the unit continues to be rent restricted, notwithstanding an increase in the income of the occupants of the unit to 140 percent of area median income (AMI), adjusted for family size (“over-income” tenants). Units reserved for lower income households at an affordable rent that are temporarily vacant due to tenant turnover or repairs shall be counted as occupied.

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Disability Date means the date on which a Participant is deemed disabled under the employee benefit plans of the Corporation applicable to the Participant.

  • Benefit Continuation Period shall have the meaning set forth in Section 5(b).

  • Recurrent Disability means a Disability caused by an Injury or Sickness that is the same as, or related to, the cause of a prior Disability for which Monthly Benefits were payable. A Recurrent Disability will be treated as follows.

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Waiver eligibility span means the twelve-month period following either an individual's initial waiver enrollment date or a subsequent eligibility re- determination date.

  • Specific learning disability (SLD) means a heterogeneous group of conditions wherein there is a deficit in processing language, spoken or written, that may manifest itself as a difficulty to comprehend, speak, read, write, spell, or to do mathematical calculations and includes such conditions as perceptual disabilities, dyslexia, dysgraphia, dyscalculia, dyspraxia and developmental aphasia.

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))