Common use of Conversion of Accumulated Sick Leave Clause in Contracts

Conversion of Accumulated Sick Leave. Employees qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert sixty five percent (65%) of the Employee's accumulated sick leave up to a three thousand two hundred fifty (3,250) hour at twenty-five (25) years of service maximum to an unfunded City account for the purpose of paying for medical coverage under the City's then existing group medical insurance plan on a monthly basis.

Conversion of Accumulated Sick Leave. Employees qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert sixty five percent (65%) of the Employee's accumulated sick leave up to a three thousand two hundred fifty (3,250) hour hours. at twenty-five (25) years of service maximum to an unfunded City account for the purpose of paying for medical coverage under the City's then existing group medical medicalhealth insurance plan on a monthly basis.

Conversion of Accumulated Sick Leave. Employees qualifying for retirement under Nevada PERS with a minimum of twenty (20) 20 years of total service with the City of Sparks may elect to convert sixty five percent (65%) of the Employee's accumulated sick leave up to a three thousand two hundred fifty (3,250) hour at twenty-five (25) years of service maximum to an unfunded City account for the purpose of paying for medical coverage under the City's then existing group medical insurance plan on a monthly basis.. Effective upon ratification, the following conversion rates will apply: Years of Continuous Service Conversion Service Percentages 20 years or more 65% 21 years or more 75% 22 years or more 85% 23 years or more 90% 24 years or more 95% 25 years or more 100%

Conversion of Accumulated Sick Leave. Employees retiring and qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert sixty seventy-five percent (6575%) of the Employeeemployee's accumulated sick leave up to a three thousand two hundred fifty (3,250) hour at twenty-five (25) years of service maximum balance to an unfunded City city account for the purpose of paying for medical coverage under the City's then then-existing group medical health insurance plan plan. or the Public Employees Benefit Plan (PEBP) or successor to the PEBP, on a monthly basis.

Conversion of Accumulated Sick Leave. Employees qualifying for retirement under Nevada PERS with a minimum of twenty (20) years of total service with the City of Sparks may elect to convert sixty five percent (65%) of the Employee's accumulated sick leave up to a three thousand two hundred fifty (3,250) hour at twenty-five (25) years of service maximum to an unfunded City account for the purpose of paying for medical coverage under the City's then existing group medical medicalhealth insurance plan on a monthly basis.. Effective upon ratification, the following conversion rates will apply: Years of Continuous Service Conversion Service Percentages 20 years or more 65% 21 years or more 75% 22 years or more 85% 23 years or more 90% 24 years or more 95% 25 years or more 100%