Method of Payment For Unused Sick Leave Sample Clauses

Method of Payment For Unused Sick Leave. The daily rate of pay (base salary + longevity + education credit + performance pay) is calculated by dividing by 260 days. The compensation for accrued, unused sick leave shall be paid in the following manner. One hundred percent (100%) shall be paid in the principal’s/assistant principal’s name to the District’s designated Health Care Savings Plan (HCSP). Payments shall be paid by the District in equal installments over a period of time not to exceed twenty-four (24) months. Payments shall be made of one-third (1/3) by June 30 of the year of retirement, one- third (1/3) on the following January 1st and the final one-third (1/3) on the next January 1st. Zero (0%) shall be paid in the principal’s/assistant principal’s name to a 403b plan. Zero (0%) shall be paid to the principal/assistant principal in cash. If a principal/assistant principal dies with a portion of his/her compensation for accrued unused sick leave unpaid, the full balance then due shall be paid to the principal’s/assistant principal’s named beneficiary, if any, otherwise to the principal’s/assistant principal’s estate.
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Method of Payment For Unused Sick Leave. The daily rate of pay (base salary, plus longevity, plus education credit) is calculated by dividing by 260 days. The compensation for unused sick leave shall be paid in the following manner. 100% shall be paid in the Association Member’s name to the district’s designated Health Care Savings Plan (HCSP). Payments shall be paid by the District in equal installments over a period of time not to exceed twenty-four (24) months. Payments shall be made of 1/3 by June 30 of the year of retirement, 1/3 on the following January 1st and the final 1/3 on the next January 1st. 0% shall be paid in the Association Member’s name to a 403b plan. 0% shall be paid to the Association member in cash. Payments shall be paid by the District in equal installments over a period of time not to exceed twenty-four (24) months. Payments shall be made of 1/3 by June 30 of the year of retirement, 1/3 on the following January 1st and the final 1/3 on the next January 1st. If an Association Member dies with a portion of his/her compensation for unused sick leave unpaid, the full balance then due shall be paidto the Association Member’s named beneficiary, if any, otherwise to the Association Member’s estate.
Sample 1

Related to Method of Payment For Unused Sick Leave

  • Payment for Unused Sick Leave a. An employee with less than ten (10) years of continuous University service, as defined herein, who separates from the University shall not be paid for any unused sick leave. For employees appointed on or before 1/7/03 University service includes continuous employment by the University or the State of Florida.

  • Time Off in Lieu of Payment for Overtime An employee may elect, with the consent of the Company, to take time off in lieu of payment of overtime at a time or times agreed with the Company. Overtime taken as time off during ordinary time hours will be taken at the ordinary time rate, that is an hour for each hour worked.

  • Compensation for Unused Sick Leave 1. Employees who enter County service after July 1, 1979, shall not be eligible for compensation for any of their unused sick leave credits.

  • Payment for annual leave (a) Before going on annual leave, an employee will be paid the amount of wages they would have received for ordinary time worked had they not been on leave during that period.

  • Determination of Service for Sick Leave with Pay Actual time worked and all leave with pay, except for educational leave, shall be included in determining the pro rata accrual of sick leave credits each month, provided that the employee works thirty-two (32) hours or more in that month.

  • Payment for leave (a) Payment will be made based on the number of ordinary hours the Employee would have worked on the day or days on which the leave was taken.

  • Pay for Unused Sick Leave Unused sick leave not to exceed 70 days will be paid at the rate of $50 per day when the teacher retires or leaves U.S.D. 506 employment, provided the teacher has a minimum of 10 years of service in U.S.D. 506. Article VI: Activity Ticket Each teacher of U.S.D. 506 shall be issued an activity ticket, which shall be honored at all regular school functions held within the district. Said ticket shall not be honored at basketball tournaments and special events. Said ticket shall be honored for employee, spouse, and children who have not yet graduated from high school. The Board of Education will have an expectation that those teachers in attendance at school functions will assume a reasonable amount of general supervision as needed.

  • Period of Payment 12.10.1 Accident pay does not apply in respect of any injury during the first 5 normal workings days of incapacity.

  • Payment for Overtime 1. Except as provided in 2.C.3., below, overtime shall be compensated at one and one-half (1 1/2) times the regular rate.

  • Payment for Holidays (a) Regular Employees Regular employees shall not have their pay reduced by virtue of holidays specified in Article 16.01.

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