Conversion of Unused Sick Leave at Retirement. Employees covered under this Agreement who retire from the City from active service under a State of Ohio pension system shall be entitled to convert accrued but unused sick leave to a cash payment on the following basis: Employees may receive, after completion of ten (10) years of continuous service with the City, a cash payment in the amount of one (1) hour's pay for each two (2) hours of accrued, but unused sick leave at their time of retirement up to $15,000.00. Such payment shall be made only once to any employee.
Conversion of Unused Sick Leave at Retirement. 1. Any teacher having been in the employ of the school district for ten (10) or more years, who retires under the Teachers Pension and Annuity Fund shall be eligible for the special retirement allowance. A lump sum payment shall be made six (6) months after a letter of resignation for the purpose of retirement is provided to the district but in no case will such payment be made prior to the date of retirement.
