Convert Unused Sick Leave for CalPERS Service Credit Upon Retirement Clause Samples
This clause allows employees to convert any unused sick leave into additional service credit with CalPERS at the time of their retirement. In practice, when an employee retires, the total number of unused sick leave hours is calculated and then applied to increase their total service credit, which can enhance their retirement benefits. The core function of this clause is to reward employees for not using all their sick leave by providing them with a tangible benefit at retirement, thereby encouraging prudent use of sick leave and supporting long-term financial planning.
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Convert Unused Sick Leave for CalPERS Service Credit Upon Retirement. The County contracted with CalPERS to provide Section 20965 Unused Sick Leave conversion for the Miscellaneous Retirement Plan members. In accordance with provisions of the Public Employees Retirement Law, as amended, employees retiring may elect to:
A. Convert all of their unused sick leave to service credit; OR
B. If the retiring employee has 10 continuous years of permanent employment with the County, upon retirement the employee may elect to receive up to 25% of his/her unused sick leave as pay at the regular rate of pay in accordance with Section 19.13 of this Article and convert the remaining balance of unused sick leave to service credit.