Sick Time Accrual Cash Out Sample Clauses

Sick Time Accrual Cash Out. Effective January 1, 2024, regular employees who have been paid at least 10,400 hours (equivalent of five years full-time employment) or have ten years (no minimum hours) of continuous employment with KCLS and are voluntarily separating in good standing will be paid the amount of thirty-five percent (35%) of their unused accrued sick time existing on the date of separation. The payoff will be based on the employee’s full hourly rate of pay at the time of separation.
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Related to Sick Time Accrual Cash Out

  • Sick Leave Annual Cash Out ‌ Each January, employees are eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if:

  • Vacation Cash Out In each calendar year, an employee may make a one-time request to cash out and receive payment for up to forty (40) hours of vacation. In order to be eligible to cash out vacation hours, the employee must be a regular status employee and have a remaining vacation balance of sixty (60) hours or more. Vacation leave that has been pre-approved will be considered when the request is made in order to determine if they will maintain the minimum vacation balance requirement.

  • Sick Leave Cash Out Eligible employees may elect to receive monetary compensation for accrued sick leave as follows: In January of each year an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. No sick leave hours may be converted which would reduce the calendar year end balance below four hundred eighty (480) hours. Monetary compensation shall be paid at the rate of twenty-five percent and shall be based on the employee’s current salary. All converted hours will be deducted from the sick leave balance. Employees who separate from University service due to retirement or death shall be compensated for the unused sick leave accumulation from the date of most recent hire in a leave eligible position with the State of Washington at the rate of 25%. Compensation shall be based upon the employee’s wage at the time of separation. For the purpose of this section, retirement shall not include vested out of service employees who leave funds on deposit with the retirement system. Former eligible employees who are re-employed within three (3) years of their separation from service shall be granted all unused sick leave credits, if any, to which they are entitled at time of separation.

  • Sick Leave Separation Cash Out ‌ At the time of retirement from state service or at death, an eligible employee or the employee’s estate will receive cash for their compensable sick leave balance on a one (1) hour for four (4) hours basis. For the purposes of this Section, retirement will not include “vested out of service” employees who leave funds on deposit with the retirement system.

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year During the first year of current continuous employment Ninety-six (96) During the second year of current continuous employment One hundred four (104) During the third and fourth years of current continuous employment One hundred twelve (112) During the fifth, sixth, and seventh years of total employment One hundred twenty (120) During the eighth, ninth, and tenth years of total employment One hundred twenty-eight (128) During the eleventh year of total employment One hundred thirty-six (136) During the twelfth year of total employment One hundred forty-four (144) During the thirteenth year of total employment One hundred fifty-two (152) During the fourteenth year of total employment One hundred sixty (160) During the fifteenth year of total employment One hundred sixty-eight (168) During the sixteenth year of total employment and thereafter One hundred seventy-six (176)

  • Election of Cash/Compensatory Time Off Justice—

  • Vacation Accrual Rates Laid off employees who are re-employed shall have the vacation accrual rate they held immediately prior to layoff restored.

  • Leave Accruals Accumulated annual leave, personal leave, and sick leave balances will automatically be frozen for the duration of the leave of absence. The employee will not accrue leave credits during the leave of absence.

  • Leave Accrual After the first 30 days of active military service in any one calendar year, employees shall not accrue City-paid vacation, holiday, or sick leave benefits or other forms of paid leave; provided, however, that any public employee on military leave for intermittent training periods shall continue to accrue the same vacation, sick, and holiday leave up to a maximum period of 180 cumulative days per calendar year as if the employee had not been on military leave.

  • Compensatory Time Cash Out All compensatory time must be used by June 30th of each year. If compensatory time balances are not scheduled to be used by the employee by April of each year, the supervisor will contact the employee to review their schedule. The employee’s compensatory time balance will be cashed out every June 30th or when the employee:

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