Conversion Upon Retirement Clause Samples
Conversion Upon Retirement. The HRA Account of any employee who retires from District service will be converted to a retiree HRA account. District retirees will continue to retain the ability to draw on their HRA Account and claim reimbursement for qualifying medical expenses for themselves and their eligible dependents. To be considered a retiree, an employee must separate from District service and begin drawing pension benefits from CalPERS within 120 days of their date of separation.
Conversion Upon Retirement. Members of the bargaining unit shall have the option, upon retirement, of continuing to carry the whole life insurance with premiums paid by the bargaining unit member. 1202 Medical/Insurance Options
Conversion Upon Retirement. Employees taking retirement with at least ten (10) years of completed service shall receive cash payment for accumulated sick leave at the employee‟s base rate of pay at the time of separation at the following rates:
A. Employees with 10 years of completed service shall be allowed to convert 1/4th of their accumulated sick leave balance not to exceed 240 hours;
B. Employees with 20 years of completed service shall be allowed to convert 1/3rd of their accumulated sick leave balance not to exceed 480 hours;
C. Employees with 30 years of completed service shall be allowed to convert 1/2 of their accumulated sick leave balance not to exceed 720 hours. Upon conversion of sick leave, all hours of accumulated sick leave will be deemed waived. An employee may convert his or her sick leave credit balance to cash under the provisions of this Article only once.
Conversion Upon Retirement. Upon retirement, employees may convert 75% of their unused, accrued sick leave balance to retirement service credit.