Payment for Unused Sick Leave Upon Retirement or Other Leave Taking. 1. Any member of the bargaining unit, regardless of the length of service at Cincinnati State Technical and Community College, who formally retires per the regulations of the STRS and is eligible and will draw retirement benefits from the system, may convert accumulated sick leave to a maximum of sixty-five (65) days at the rate of one (1) day for every three (3) days of sick leave into a lump sum payment upon the effective official day of retirement. When the lump sum cash payment amount an eligible employee may receive is computed, the rate shall be computed as 0.00556 times the employee's current annual salary at separation, times the number of eligible days.
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