Sick Leave Payout definition

Sick Leave Payout. Employees who retire on pension or who voluntarily terminate their employment with the Employer, or who are permanently laid off from their employment with the Employer, shall upon termination or retirement be paid any sick leave accumulation they may have to their credit.
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Sick Leave Payout. Employees hired prior to November 2, 2015 who retire on pension or who voluntarily terminate their employment with the Co-operative, or who are permanently laid off from their employment with the Co-operative, shall upon termination or retirement be paid any sick leave accumulation they may have to their credit. Sick leave hours accumulated prior to February 20, 1984, shall be paid out at termination or retirement at a rate of fifty percent (50%) of accumulated credits. Employees who have a sick leave credit balance in excess of ninety-six (96) hours, as of December 31, 1984, and on each December 31st thereafter, shall receive a cash payout to a maximum of forty-eight
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Sick Leave Payout means a lump sum payment received from the Regina Police Services Sick Leave Plan upon retirement, death or Termination of Service in respect of a Civilian employee who:
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Examples of Sick Leave Payout in a sentence

  • The terms "totally disabled" and "retired" shall be defined as stated in the State of Michigan General School Laws and used by the Michigan Public School Employees Retirement Board but, to be eligible for Accumulated Sick Leave Payout, the employee must not only have retired but actually receive retirement benefits within four (4) months after the teacher has retired from the School District.

  • Educator’s seeking a Sick Leave Payout Estimate may utilize the Sick Leave Payout Calculator.

  • I, the undersigned employee, hereby elect retirement effective , and apply to participate in the District’s Terminal Sick Leave Payout Plan (the “Plan”).

  • Section 1 Employees who actually retire under the Michigan Public School Employees Retirement Act, or have become totally disabled, and who have spent a minimum of ten (10) years of full-time service in the Marquette Area Public Schools, will be entitled to pay for accumulated Paid Sick Leave as provided in this Article ("Accumulated Sick Leave Payout").

  • The Accumulated Sick Leave Payout will be made in three payments, each equal to one- third of the total Accumulated Sick Leave Payout, over a period of three years.

  • Section 3 Sick Leave accrued prior to July 1, 1997 will be paid out according to the attached Agreement titled: “Article XIII – (Terminal Leave Pay for Sick Leave Accrued Prior to July 1, 1997)” with Attachment A (Terminal Sick Leave Payout Plan Application / Retirement) and Attachment B (Terminal Sick Leave Payout Plan Agreement and Waiver / Release of Claims).

  • Except as provided for in Article 26.3 (Sick Leave Payout), all sick leave credits are cancelled upon termination of employment unless the employee is re-engaged within twenty-four (24) calendar months.

  • In the year in which an employee is eligible for and will receive payment for sick leave payout at retirement as provided in Article 29, Sick Leave Payout at Separation, the employee will not be eligible for the annual sick leave payout as provided in this Article.

  • In the event 30 Il-CS 105/14a (Sick Leave Pay-out) is amended or repealed, the parties agree that the Board of Trustees Benefits Regulations for Civil Service Employees regarding payment for Sick Leave shall be automatically amended or repealed consistent with that action and shall have immediate application to the bargaining unit.

  • The District has proposed changes to Sick Leave Payout (Policy 4119).

Related to Sick Leave Payout

  • Sick Leave means the period of time an employee is absent from work by virtue of being sick or disabled or because of an accident not covered by Workers' Compensation.

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

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Vacation Year means the twelve (12) month period commencing on the first day of April in each calendar year and concluding on the last day of March of the following calendar year.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).