▇▇▇▇ Leave Buy Back Clause Samples

▇▇▇▇ Leave Buy Back. To encourage and reward employees who maintain good job attendance, the parties agree to the following incentive award: Non-year round employees who utilize two (2) sick leave days or less during each assigned school calendar year and year-round employees who utilize three (3) sick leave days or less during each assigned school calendar year - upon request – receive payment for up to eight (8) days of sick leave, provided the employee worked the full assigned calendar year. The following procedures apply to the payment of sick leave under this section. 1. An employee must have a minimum of twenty-five (25) days of accumulated sick leave remaining after the payment for unused sick leave under this section. 2. The payment of this incentive shall be paid to eligible employees no later than October 31st of the school year following the school year in which the employee qualified for the incentive pay. 3. For purposes of this section, sick leave shall be defined pursuant to all sections of Florida Statutes, Section 1012.61. 4. Days for which such award payment is received shall be deducted from the accumulated leave balance. 5. Payment shall be equal to the number of eligible days times the affected employees’ daily rate of base pay times eighty percent (80%). 6. To apply for this benefit, employees must use the District approved Sick Leave Buy Back process.

▇▇▇▇ Leave Buy Back. Employees may cash in unused sick leave above an accumulation of sixty (60) days from the previous year’s accumulation, at a ratio of one full day’s monetary compensation for four (4) accumulated sick leave days. At the employee’s option, they can cash-out their unused sick leave days in January of the school year following any year in which a minimum of sixty (60) days of sick leave is accrued and each January thereafter, at the rate equal to one day’s monetary compensation of the employee for each four (4) full days of accrued sick leave. The employee’s sick leave accumulation shall be reduced four (4) days for each day compensated. No employee may receive compensation for sick leave accumulated in excess of one day per month. At the time of separation from school district employment due to retirement* or death, an eligible employee or the employee’s estate shall receive remuneration at a rate equal to one (1) day’s current monetary compensation of employee for each four (4) days accrued sick leave for illness or injury. (RCW 28A.400.210) *For the purpose of this provision, retirement shall be defined as when an employee is eligible to receive benefits under Washington State Teachers Retirement System (WSTRS).

▇▇▇▇ Leave Buy Back. If a teacher has accumulated more than 100 sick leave days, the teacher may sell back up to five (5) of the days that are in excess of 100 accumulated sick leave days at a rate of $100 per sick leave day. The MSDLT will have two days on which it will buy back sick leave days, one in January and one in June, but a teacher must select which one of those two days the teacher wishes to sell back the sick leave days. Further, the teacher may not sell back sick leave days if the sale would cause the teacher to have fewer than 100 accumuluated sick leave days.

▇▇▇▇ Leave Buy Back. In recognition of dedicated service to the children of Amesbury, any employee covered by this agreement that has taught for twenty (20) years in the Amesbury school system (or 30 years total teaching, the last fifteen (15) of which have been consecutive in the Amesbury school system), may obtain an increase in compensation in the final year of teaching/nursing by following the established procedure. Eligible employees who desire to participate in this program will notify the Superintendent of their intention to retire by December 15 of the calendar year prior to the school year in which they intend to retire. If such notice is submitted in writing by December 15, then at the conclusion of the final year of teaching/nursing, all accumulated sick leave shall be eliminated and in lieu thereof the employee shall receive a lump sum payment in the amount of seventy-five percent (75%) of the current teacher or nurse substitute pay per day for each sick leave day surrendered, subject to the cap set forth below. The above benefits shall be paid to the estate of any employee who dies during the final year of teaching. It is understood that the giving of a notice of intent to retire pursuant to this provision is irrevocable, and the employee giving such notice shall be required to retire at the conclusion of the next school year following the school year in which the notice of intent to retire is given, except if significant changes in the employee’s family or personal life require the employee to continue teaching/nursing. The amount of sick leave buy back paid to an employee shall be capped at $10,000.

▇▇▇▇ Leave Buy Back. Any member of the unit who retires or the estate of any member who dies during the term of his contract shall be compensated for each day of unused sick leave according to the following schedule: 1-50 days $16.50 51-99 days $26.38 100+ days 50% of per diem rate in the year of retirement or death. For all members of the unit hired before September 1, 2009, the maximum number of accumulated sick days for which sick leave buyback will be permitted is 450 (four hundred fifty). For any member of the unit hired on or after September 1, 2009, the maximum number of accumulated sick days for which sick leave buyback will be permitted is 400 (four hundred).

▇▇▇▇ Leave Buy Back. A confidential employee who plans on retiring will receive sick leave buy back pay based upon $20.00 per day for each day of unused sick leave if the confidential employee notifies his/her supervisor of their intent to retire in writing by March 1 (if retiring at the end of a school year), or at least 90 calendar days in advance of their last scheduled work day. Payment will be made into a tax sheltered annuity plan. The tax sheltered annuity must be set up on or before the individual’s retirement date. The deposit will be made with the June 30 payroll process, or final payroll process if the retirement is mid-year. Upon approval from the Superintendent, the 90-calendar-day advance notice may be waived due to mitigating circumstances. The final determination will not be precedent setting, or subject to the grievance process.

▇▇▇▇ Leave Buy Back. The Board will buy back any Unused Annual Allotment days in excess of 90 days at the end of each school year at half the daily rate of pay for the Executive Director. The purchase money shall be deposited into the Executive Director’s VEBA or HSA account by August 1 of each year.

▇▇▇▇ Leave Buy Back. Any Administrator in the Fall River School System with a minimum of fifteen (15) years of service will get thirty-five dollars ($35) for each day of accumulated unused days up to 225 days upon resignation, retirement, or death. In addition, Administrators will be compensated at thirty-five dollars ($35) for 25 percent (25%) of all days accumulated over 225 days. Money will be payable by August 31st of the year that they retire.

▇▇▇▇ Leave Buy Back. A full time teacher who plans on retiring will receive a sick leave buy back payment pay based on $50.00 per day for each day of unused sick leave if the teacher notifies their supervisor of their intent to retire in writing by March 1 (if retiring at the end of a school year) or at least 90 calendar days in advance when planning to retire mid-year. The sick leave buy back payment will not exceed the maximum amount of $6,250. Payment will be made at the teacher’s discretion to an eligible teacher’s tax sheltered annuity. The tax sheltered annuity must be set up on or before the individual’s retirement date. The deposit will be made with the June 30 payroll process, or final payroll process if the retirement is mid-year.