Pay at Retirement. Upon termination or retirement, bargaining unit members will receive vacation pay for the accrued and unused vacation days.
Pay at Retirement. An employee who retires from the Erie School District shall be paid for his/her unused accumulated sick days at the rate of 60% of his/her per diem rate not to exceed $100 per day with unlimited accumulation, provided the District is notified by letter to the Personnel Department at least ninety (90) days prior to July 1 of the planned retirement occurring during the following school year. In any event, the employee shall be paid an amount of not less than $500. This amount will be included in the employee’s last paycheck. Payment for accumulated sick days at time of retirement shall include any days accumulated during the retirement year up to twelve (12) days prorated on the basis of the number of months worked prior to the date of retirement. If the employee does not apply by July 1, he/she will not receive payment for unused sick days or Early Retirement Incentive until July of the following year. Employees shall also have the option of being paid for unused accumulated sick days as follows: Age at retirement to be subtracted from age 65; this number of years will be divided into total amount due to be reimbursed to retiree for unused accumulated sick days. This amount will be paid to the retiree in July of each year up to age 65. In the event of the death of the retiree, the balance of the amount due will be paid to the retiree’s beneficiary or estate each July in the same yearly amount being paid the retiree.
Pay at Retirement. ARTICLE XIV
