Calculation of Severance Pay. An eligible employee shall receive as severance pay upon her/his retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days up to 480 hours, times her/his hourly rate of pay at the time of retirement, disability or death, times the percentage determined by the employee’s years of service on her/his last day of employment. 10 full years of service 40% 15 full years of service 50% 20+ full years of service 60%
Appears in 5 contracts
Samples: Drivers Agreement, Paraprofessional Agreement, Paraprofessional Agreement
Calculation of Severance Pay. An eligible employee shall receive as severance pay upon her/his retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days up to 480 hours60 days, times her/his hourly daily rate of pay at the time of retirement, disability or death, times the percentage determined by the employee’s years of service on her/his last day of employment. 10 full years of service 40% 15 full years of service 50% 20+ full years of service 60%
Appears in 3 contracts
Samples: Nutritional Services Agreement, Clerical Agreement, Nutritional Services Agreement
Calculation of Severance Pay. An eligible employee shall receive as severance pay upon her/his retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days up to 480 hours60 days, times her/his hourly daily rate of pay at the time of retirement, disability or death, times the percentage determined by the employee’s 's years of service on her/his last day of employment. 10 full years of service 40% 15 full years of service 50% 20+ full years of service 60%
Appears in 3 contracts
Samples: Agreement, Agreement, www.isd742.org
Calculation of Severance Pay. An eligible employee shall receive as severance pay upon her/his retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days up to 480 hours60 days, times her/his hourly daily rate of pay at the time of retirement, disability or death, times the percentage determined by the employee’s years of service on her/his last day of employment. 10 full years of service 4020% 15 full years of service 30% 20 full years of service 40% 25 full years of service 50% 20+ 30 full years of service 60%
Appears in 2 contracts
