Payment at Retirement. Payment for unused sick days is at the rate of one hundred percent (100%) of days accumulated at $100 per day to a maximum of $15,000.
Payment at Retirement. Bargaining Unit members who retire according to the rules and regulations established by the applicable retirement board, shall be compensated in a lump sum for that portion of unused sick leave up to the following level:
Payment at Retirement. Upon retirement, administrators shall be paid for one-hundred percent (100%) of unused accumulated sick-leave days at the rate of $175/day up to a maximum of $20,000, upon ratification of the Agreement. The maximum payment for any employee hired on or after May 21, 2010 is $15,000.00. For employees who retire during the school year, the unused sick leave from the days credited during that year shall be prorated on the basis of the full calendar months worked for the purpose of calculating the payment.
Payment at Retirement. 1. Upon retirement at the end of the school year, the retiree shall be paid for 100 percent of the unused accumulated sick-leave days to a maximum of $15,000 at the per diem rate of $100. Teachers whose entitlement exceeded $15,000 on June 30, 1993, shall be capped at the amount earned by June 30, 1993.
Payment at Retirement. Effective January 1, 2013 any employee upon retirement who is eligible for compensation in accordance with Chapter 46 of the Borough Code, shall be entitled to compensation not to exceed $15,000.00 which shall be paid in the first pay period after final adoption of the municipal budget in the year subsequent to the employee's effective date of retirement, unless requested by the employee to be paid in equal installments over a one (1), two (2), or three (3) year period. Notice shall be provided in accordance with Article VI of this Agreement. The parties agree that should the State of New Jersey enact a law that reduces a cap of $15,000 then the parties agree that this shall become effective immediately, regardless of the contract terms.
Payment at Retirement. Those Contracted Drivers employed in Rockaway Township Public Schools for twenty (20) or more years shall be reimbursed upon honorable termination for unused sick leave based upon one (1) day reimbursement for each three (3) days of unused sick leave as follows: all days of leave used, such as Personal days, Illness in Family days, etc., other than Jury Duty and Funeral leaves permitted in Agreement, shall be deducted from the gross number of unused sick leave days and the remainder shall be divided by three (3) and paid at the Contracted Drivers rate of pay for his/her final year of employment.
Payment at Retirement. A. Each employee shall be entitled, upon retirement for service and age or disability from a state-administered retirement system, to receive a lump sum payment for one-third of the earned and unused accumulated sick leave which is credited to him/her on the effective date of his/her retirement in the manner and to the extent provided for herein. An employee who elects a deferred retirement benefit shall not be eligible for supplemental compensation payment. A minimum of five (5) years’ service is required for eligibility.
Payment at Retirement. An employee who separates from the County employment for retirement purposes approved by Municipal Employees' Retirement System shall be paid one-half of his unused sick leave as of the effective date of separation. Payment of unused sick leave days under this section shall be at the employee's prevailing rate of pay and the payment of on-half of all accumulated leave days shall be based on a maximum possible accumulation of six hundred thirty (630) hours provided said employees has earned said hours.
Payment at Retirement. A. Effective July 1, 1989, each employee shall be entitled, upon retirement for service and age or disability from a state administered retirement system, to receive a lump sum payment for one-third of the earned and unused accumulated sick leave which is credited to him/her on the effective date of his/her retirement in the manner and to the extent provided for herein. An employee who elects a deferred retirement benefit shall not be eligible for supplemental compensation payment.
