Common use of Conversion of Sick Leave to Retirement Service Credit Clause in Contracts

Conversion of Sick Leave to Retirement Service Credit. Upon retirement, unused accrued sick leave can be used to extend service credit and an employee will receive 0.004 years of service credit for each 8 hours of unused accrued sick leave pursuant to CalPERS regulations. Alternatively, an employee can elect to cash out up to 800 hours of unused accrued sick leave at the rate of two hours of pay for each 8 hours of unused accrued sick leave. An employee can also elect a combination of cash out up to the maximum 800 hours (200 hours pay) and extended service for the balance.

Conversion of Sick Leave to Retirement Service Credit. Upon retirement, retirement unused accrued sick leave can be used to extend service credit and an employee will receive 0.004 years of service credit for each 8 hours of unused accrued sick leave pursuant to CalPERS regulations. Alternatively, an employee can elect to cash out up to 800 hours of unused accrued sick leave at the rate of two hours of pay for each 8 hours of unused accrued sick leave. An employee can also elect a combination of cash out up to the maximum 800 hours (200 hours pay) and extended service for the balance.

Conversion of Sick Leave to Retirement Service Credit. Upon retirement, or termination when eligible for retirement, unused accrued sick leave can be used to extend service credit and an employee will receive 0.004 years of service credit for each 8 hours of unused accrued sick leave pursuant to CalPERS regulationsleave. Alternatively, an employee can elect to cash out up to 800 hours of unused accrued sick leave at the rate of two hours of pay for each 8 hours of unused accrued sick leave. An employee can also elect a combination of cash out up to the maximum 800 hours (200 hours pay) and extended service for the balance.