Conversion of Sick Leave at Retirement Sample Clauses

Conversion of Sick Leave at Retirement. (VEBA) The District has adopted the VEBA III Sick Leave Conversion Medical Reimbursement Plan pursuant to RCW28A.400.210 and agrees to make contributions based on the conversion sick leave credits to the account of each eligible certified staff member at retirement, in accordance with the statute. The District will provide the Association with a list of members eligible to retire by February 1. The Association will contact each member on the list and ask if he or she intends to retire that year. Each year by March 1 those eligible and intending to retire will vote on whether to participate in the plan for that year. If a majority of such members agree to participate in the plan, the Association will notify the District. The Association will also notify the District if the majority does not vote to participate in the plan. If a majority of those eligible and intending to retire, vote yes, all certified NAT staff members retiring that year must participate. The District will provide each of those members with a VEBA III enrollment form which includes a Hold Harmless Agreement if they are not previously enrolled. These forms need to be completed by the member and returned to the District by May 15. Moneys received under this section shall not be included for the purposes of computing a retirement allowance under any public retirement system in this state. The Superintendent of Public Instruction in its administration hereof, shall promulgate uniform rules and regulations to carry out the purposes of this section. Should the legislature revoke any benefits granted under this section, no affected employee shall be entitled thereafter to receive such benefits as a matter of contractual right.
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Conversion of Sick Leave at Retirement. When an officer retires as defined by the Wisconsin Retirement System or is forced to retire due to medical disability a maximum of sixty percent (60%) of the sick leave remaining in the officer's accumulated sick leave account may be converted to its monetary value (officer's hourly rate, exclusive of longevity and shift differential) and shall be contributed to the participant’s Post Employment Health Plan (PEHP). In order to determine the officer’s sick leave conversion benefit when they retire, the following formula will apply: Years of continuous service + officer's age at retirement = Number of credits (For credits between 63 and 75, deduct 5% from the standard conversion for each year under 75) Officers who retire with at least 20 years of service shall have a monetary contribution of 80 percent (80%) of banked sick leave hours contributed to the participant’s PEHP. In order to be eligible for the above-described benefit, the employee must meet the following conditions:
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Conversion of Sick Leave at Retirement. Or Death Upon retirement, all employees will be eligible for payment in whichever of the following amounts is greater:
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Conversion of Sick Leave at Retirement. Employees at the time of retirement from active full-time service with the Township under the Ohio Public Employees Retirement System (OPERS) and with ten (10) or more continuous years of service with the Township shall be paid in cash for one-half (1/2) of the employee's accrued but unused sick leave, up to a maximum of eight hundred seventy-five (875) hours. The dollar value of a sick day shall be based on the employee's hourly rate at time of retirement. Payment for sick leave on this basis shall be considered to eliminate all sick leave credit accrued by the employee at that time. Such payment shall be made by the Township of Brunswick Hills only once to any employee during his lifetime. This section shall only apply to the retirement of a full-time employee pursuant to state retirement laws and shall not be deemed applicable to any removal, voluntary or involuntary resignation, or any other like termination except a retirement as set forth herein.
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Conversion of Sick Leave at Retirement. Upon retirement or separation, in good standing, after five (5) years of full-time employment, full-time employees may convert unused accrued sick leave to a lump sum monetary payment under the following conditions: Payment will be on the basis of one day's pay for each three (3) days of accrued sick leave. Payment will be at the hourly rate in effect at the time of retirement or separation in good standing. Only that sick leave which is accrued while employed by the Village of Granville shall be used in determining the amount of accrued sick leave eligible for conversion. Employees terminated for cause or who fail to give two weeks written notice of intent to terminate employment, or who do not separate in good standing are not eligible for sick leave conversion benefit. Provided the condition in paragraphs (1) - (4) are met, the maximum conversion of accrued but unused sick leave upon retirement or separation in good standing shall be one-third (1/3) of accrued, unused sick leave to a maximum of three hundred and twenty (320) hours or one-third (1/3) of nine hundred and sixty (960) hours maximum.
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Related to Conversion of Sick Leave at Retirement

  • Conversion of Sick Leave 30 A. Based upon accrual as of July 1 each fiscal year, employees shall be allowed 31 to convert sick leave in accordance with the following schedule:

  • Sick Leave Conversion On January 1 of each year, an employee may convert up to a maximum of 30 hours accumulated sick leave at fifty percent (50%) cash value for the sole purpose of reimbursing the employee for medical costs. This conversion is subject to the following:

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Accumulation of Sick Leave The unused portion of an Employee's sick leave shall accrue for her future benefit, up to a maximum of one hundred and thirty (130) days.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Donation of Sick Leave The District shall allow unit members to donate sick leave to individual employees who have suffered long-term disabilities or illnesses. Donating unit members shall retain a thirty (30) day balance of sick leave after their donation and may donate no more than twenty-five (25) days of sick leave per year. The donation form is Appendix I. Part-time faculty may receive sick leave donations from any employee, and may donate accumulated sick leave to other part-time faculty following the same requirements as outlined above. Part-time faculty may not donate sick leave to full- time employees.

  • Notification of Sick Leave Days The Board shall notify employees and the Bargaining Unit, when they have exhausted their 11 days allocation of sick leave at 100% of salary.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Utilization of Sick Leave Employees who have accrued paid leave time shall be eligible for paid leave for any period of absence from employment which includes but is not limited to the employee’s illness; injury; temporary disability; medical or dental care; or to attend to members of the employee’s or the employee’s spouse’s immediate family or domestic partner or domestic partner’s immediate family, where the employee’s presence is required because of illness or as otherwise required by the state or federal Family Medical Leave Act or other State law. The Employer may, in its sole discretion, require reasonable proof of illness or disability and/or certification of the necessity of the employee’s absence.

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