Annual Sell Back Sample Clauses

Annual Sell Back. Once every fiscal year during the month of July an employee who has accumulated 240 unused sick leave hours shall be eligible to sell back to the City one-half of his annual accrued but unused sick leave hours in excess of 240 hours, at the rate of $.70 on the dollar, based upon the hourly rate of pay in effect as of June 30th. The remaining one-half of annual accrued but unused sick leave hours will remain in the employee's bank of accumulated sick leave.
Sample 1See All (6)
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Annual Sell Back a. Employee A has accumulated 328 unused sick leave hours as of June 30. During the fiscal year, he or she has accrued 96 sick leave hours and used 8 hours. He or she is eligible to sell back 44 sick leave hours in July at the rate of $.70 on the dollar or employee may choose to convert this equivalent amount of hours, after the $.70 on dollar conversion, to vacation hours. If he or she elects to sell back all 44 eligible hours, 284 hours will remain in his or her sick leave bank until used or time of retirement. Calculation: 328 unused hours in sick leave bank (June 30) 96 hours accrued - 8 hours used = 88 unused hours during fiscal year 88 hours divided by 2 = 44 hours eligible for annual sell back (30.8 hours converted to vacation hours) 328 hours - 44 hours = 284 hours remaining in sick leave bank b. Employee B has accumulated 248 unused sick leave hours as of June 30. During the fiscal year, he or she has accrued 96 sick leave hours and did not use any. Although he or she would ordinarily qualify to sell back 48 hours (one-half of 96 accrued but unused sick leave hours), he/she can actually sell back only 8 hours in order to maintain the qualifying bank of 240 hours. If he or she elects to sell back all 8 eligible hours, 240 hours will remain in his or her sick leave bank until used or time of retirement. Calculation: 248 unused hours in sick leave bank (June 30) 96 hours accrued - 0 hours used = 96 unused hours during fiscal year 96 hours divided by 2 = 48 hours "ordinarily" eligible for annual sell back 248 bank hours - 240 minimum required hours = 8 hours eligible for annual sell back (5.6 hours converted to vacation hours) 248 - 8 hours = 240 hours remaining in sick leave bank -46- league mou 2006-2009 04/19/04
Sample 1
Annual Sell Back a. Employee A has accumulated 328 unused sick leave hours as of June 30. During the fiscal year, he or she has accrued 96 sick leave hours and used 8 hours. He or she is eligible to sell back 44 sick leave hours in July at the rate of $.70 on the dollar or employee may choose to convert this equivalent amount of hours, after the $.70 on dollar conversion, to vacation hours. If he or she elects to sell back all 44 eligible hours, 284 hours will remain in his sick leave bank until used or time of retirement. Calculation: 328 unused hours in sick leave bank (June 30) 96 hours accrued - 8 hours used = 88 unused hours during fiscal year 88 hours divided by 2 = 44 hours eligible for annual sell back (30.8 hours converted to vacation hours) 328 hours - 44 hours = 284 hours remaining in sick leave bank
Sample 1

Related to Annual Sell Back

  • Vacation Sell Back Unit members may sell-back to the City up to twenty (20) days of accrued vacation each calendar year:

  • Call Back Where employees are called back to work after having completed a regular shift, and prior to the commencement of their next regular shift, they shall receive a minimum of four (4) hours of work or four (4) hours pay at the rate of time and one-half (1-1/2) their regular hourly earnings. Superior provisions shall remain.

  • Open Enrollment Period Open Enrollment is a period of time each year when you and your eligible dependents, if family coverage is offered, may enroll for healthcare coverage or make changes to your existing healthcare coverage. The effective date will be on the first day of your employer’s plan year. Special Enrollment Period A Special Enrollment Period is a time outside the yearly Open Enrollment Period when you can sign up for health coverage. You and your eligible dependents may enroll for coverage through a Special Enrollment Period by providing required enrollment information within thirty (30) days of the following events: • you get married, the coverage effective is the first day of the month following your marriage. • you have a child born to the family, the coverage effective date is the date of birth. • you have a child placed for adoption with your family, the coverage effective date is the date of placement. Special note about enrolling your newborn child: You must notify your employer of the birth of a newborn child and pay the required premium within thirty -one (31) days of the date of birth. Otherwise, the newborn will not be covered beyond the thirty -one (31) day period. This plan does not cover services for a newborn child who remains hospitalized after thirty-one (31) days and has not been enrolled in this plan. If you are enrolled in an Individual Plan when your child is born, the coverage for thirty- one (31) days described above means your plan becomes a Family Plan for as long as your child is covered. Applicable Family Plan deductibles and maximum out-of-pocket expenses may apply. In addition, if you lose coverage from another plan, you may enroll or add your eligible dependents for coverage through a Special Enrollment Period by providing required enrollment information within thirty (30) days following the date you lost coverage. Coverage will begin on the first day of the month following the date your coverage under the other plan ended. In order to be eligible, the loss of coverage must be the result of: • legal separation or divorce; • death of the covered policy holder; • termination of employment or reduction in the number of hours of employment; • the covered policy holder becomes entitled to Medicare; • loss of dependent child status under the plan; • employer contributions to such coverage are being terminated; • COBRA benefits are exhausted; or • your employer is undergoing Chapter 11 proceedings. You are also eligible for a Special Enrollment Period if you and/or your eligible dependent lose eligibility for Medicaid or a Children’s Health Insurance Program (CHIP), or if you and/or your eligible dependent become eligible for premium assistance for Medicaid or a (CHIP). In order to enroll, you must provide required information within sixty (60) days following the change in eligibility. Coverage will begin on the first day of the month following our receipt of your application. In addition, you may be eligible for a Special Enrollment Period if you provide required information within thirty (30) days of one of the following events: • you or your dependent lose minimum essential coverage (unless that loss of coverage is due to non-payment of premium or your voluntary termination of coverage); • you adequately demonstrate to us that another health plan substantially violated a material provision of its contract with you; • you make a permanent move to Rhode Island: or • your enrollment or non-enrollment in a qualified health plan is unintentional, inadvertent, or erroneous and is the result of error, misrepresentation, or inaction by us or an agent of HSRI or the U.S. Department of Health and Human Services (HHS).

  • Contract Distribution The Employer will provide all current and new employees with a link to the new Agreement. Each department or unit will maintain a paper copy of the contract accessible to all employees.

  • Shift Selection In multiple shift operations, employees within each classification shall have a right to select their work shift on the basis of their seniority within a bureau or division thereof and competing only with employees covered under this agreement on the following basis:

  • Open Enrollment There shall be an open enrollment period each enrollment year during which eligible employees may change plans. The District shall establish and announce the dates of such open enrollment period, and shall mail open enrollment materials to employees fourteen or more days before the beginning of the open enrollment period. If an eligible employee requests a change of plan, he or she shall continue to be covered under his or her existing plan until coverage under the new plan can be instituted.

  • Transition Period LVRT Standard The transition period standard applies to wind generating plants subject to FERC Order 661 that have either: (i) interconnection agreements signed and filed with the Commission, filed with the Commission in unexecuted form, finally executed as conforming agreements, or filed with the Commission as non-conforming agreements between January 1, 2006 and December 31, 2006, with a scheduled in-service date no later than December 31, 2007, or (ii) wind generating turbines subject to a wind turbine procurement contract executed prior to December 31, 2005, for delivery through 2007.

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