PAYMENT FOR ACCUMULATED SICK LEAVE UPON RETIREMENT Sample Clauses

PAYMENT FOR ACCUMULATED SICK LEAVE UPON RETIREMENT. Upon retirement from Agawam, or death (while employed by Agawam), teachers or their estate shall be entitled to one (1) day’s pay for every four (4) days of accumulated sick days above thirty (30). The Superintendent must be notified of a teacher’s intent to retire by January 1st of the year preceding retirement in order to budget. A teacher may rescind his/her retirement notice no later than sixty (60) days prior to the effective date of retirement, unless a material change in personal circumstances warrants otherwise. A teacher may submit a letter of intent to retire after January 1st of the year preceding retirement; however, if the teacher does so, the Committee has the option to defer payment to the fiscal year next following the date of notification. This notification provision will not apply to anticipated retirements during the 2004-2005 school year. The provisions of Paragraph A above shall apply to teachers hired after December 1, 1982 to the extent that the accumulated sick leave shall be limited to 150 days, with the net affect then being that a teacher may receive compensation for a total of 30 days maximum. Article 32A
Sample 1
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PAYMENT FOR ACCUMULATED SICK LEAVE UPON RETIREMENT. A. Upon retirement from Agawam, or death (while employed by Agawam), teachers or their estate shall be entitled to one (1) day’s pay for every four (4) days of accumulated sick days above thirty (30). The Superintendent must be notified of a teacher’s intent to retire by January 1st of the year preceding retirement in order to budget. A teacher may rescind his/her retirement notice no later than sixty (60) days prior to the effective date of retirement, unless a material change in personal circumstances warrants otherwise. A teacher may submit a letter of intent to retire after January 1st of the year preceding retirement; however, if the teacher does so, the Committee has the option to defer payment to the fiscal year next following the date of notification.
Sample 1
PAYMENT FOR ACCUMULATED SICK LEAVE UPON RETIREMENT. Any Employee who retires from the City of Flint as provided in the Retirement Ordinance shall be compensated in cash for any accumulated unused sick leave days up to 480 hours plus one-half (1/2) pay for each hour of unused sick leave in excess of 960 hours, and for Employees hired prior to January 1, 1978, it shall continue to be included in the computation of final average compensation for retirement purposes. Provided, however, for any Employee hired after January 1, 1978, said sick leave shall be paid after the Employee retires (within sixty (60) days) and shall not be included as part of the Employee's final average compensation for the purpose of computing retirement benefits.
Sample 1
PAYMENT FOR ACCUMULATED SICK LEAVE UPON RETIREMENT. A. An employee of the Police Department in a position represented by the Fraternal Order of Police, upon retirement, or in the event of the death of said employee — his/her beneficiary, will be paid for accumulated sick leave as follows: Effective November 6, 2007, the following sick leave conversion formula will be in effect:
Sample 1

Related to PAYMENT FOR ACCUMULATED SICK LEAVE UPON RETIREMENT

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • 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.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • Vacation Pay on Retirement Termination is as follows:

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • 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.

  • Retirement Formula The City contracts with CalPERS to provide the 2.5% at 55 retirement formula set forth in California Government Code Section 21354.4.

  • Retirement Date If the Executive remains in the continuous employ of the Bank, the Executive shall retire from active employment with the Bank on the Executive’s sixty-fifth (65th) birthday, unless by action of the Board of Directors this period of active employment shall be shortened or extended.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

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