Common use of Pay for Unused Sick Leave Clause in Contracts

Pay for Unused Sick Leave. Unused accumulated sick leave shall be paid to employees who resign, retire, or are laid off with ten (10) years or more of continuous service, to a maximum of ninety (90) days at the rate of Two Dollars ($2.00) per day times the years of continuous service for employees retiring or being laid off, and at the rate of Fifty Cents (50¢) per day times the years of continuous service for persons resigning. As an alternative to the two-dollars ($2.00), per day payment for unused sick leave above, an employee may elect to convert unused sick leave to up to one (1) year of credited service under the City of Grand Rapids General Retirement System as provided herein. An employee shall not be paid for any remaining hours of sick leave under the payoff provisions above after converting to the maximum of one (1) year of credited service. Employees who participate in the City of Grand Rapids General Retirement System who retire or separate with a deferred retirement with ten (10) or more years of continuous service may elect to receive pension service credit for unused sick leave. Two thousand and eighty (2,080) hours of sick leave shall be required to achieve one (1) year of pension service credit. Lesser amounts shall be converted on a pro-rated basis as determined by the Retirement Systems office. Any such additional credited service received upon conversion of unused sick leave upon retirement or separation with a deferred retirement under these provisions shall be used solely for the purpose of computing the member’s life allowance and shall be subject to the percentage caps of Article 28, Section 1(f).

Pay for Unused Sick Leave. Unused accumulated sick leave shall be paid to employees who resign, retire, or are laid off with ten (10) years or more of continuous service, to a maximum of ninety (90) days at the rate of Two Dollars One Dollar ($2.001.00) per day times the years of continuous service for employees retiring or being laid off, and at the rate of Fifty Cents (50¢) per day times the years of continuous service for persons resigning. As an alternative to the twoone-dollars dollar ($2.00), 1.00) per day payment for unused sick leave above, an employee may elect to convert unused sick leave to up to one (1) year of credited service under the City of Grand Rapids General Retirement System as provided herein. An employee shall not be paid for any remaining hours of sick leave under the payoff provisions above after converting to the maximum of one (1) year of credited service. Employees who participate in the City of Grand Rapids General Retirement System who retire or separate with a deferred retirement with ten (10) or more years of continuous service may elect to receive pension service credit for unused sick leave. Two thousand and eighty (2,080) hours of sick leave shall be required to achieve one (1) year of pension service credit. Lesser amounts shall be converted on a pro-rated basis as determined by the Retirement Systems office. Any such additional credited service received upon conversion of unused sick leave upon retirement or separation with a deferred retirement under these provisions shall be used solely for the purpose of computing the member’s life allowance and shall be subject to the percentage caps of Article 28, Section 1(f).

Pay for Unused Sick Leave. Unused accumulated sick leave shall be paid to employees who resign, retire, or are laid off with ten (10) years or more of continuous service, to a maximum of ninety (90) days at the rate of Two Dollars One Dollar ($2.001.00) per day times the years of continuous service for employees retiring or being laid off, and at the rate of Fifty Cents (50¢) per day times the years of continuous service for persons resigning. As an alternative to the two-dollars one dollar ($2.00), 1.00) per day payment for unused sick leave above, an employee may elect to convert unused sick leave to up to one (1) year of credited service under the City of Grand Rapids General Retirement System as provided herein. An employee shall not be paid for any remaining hours of sick leave under the payoff provisions above after converting to the maximum of one (1) year of credited service. Employees who participate in the City of Grand Rapids General Retirement System who retire or separate with a deferred retirement with ten (10) or more years of continuous service may elect to receive pension service credit for unused sick leave. Two thousand and eighty (2,080) hours of sick leave shall be required to achieve one (1) year of pension service credit. Lesser amounts shall be converted on a pro-rated basis as determined by the Retirement Systems office. Any such additional credited service received upon conversion of unused sick leave upon retirement or separation with a deferred retirement under these provisions shall be used solely for the purpose of computing the member’s life allowance and shall be subject to the percentage caps of Article 28, Section 1(f).