Post-Retirement Unused Sick Leave Payment Sample Clauses

Post-Retirement Unused Sick Leave Payment. The District shall pay a service recognition payment for eligible unused sick leave days. Eligibility for such payment shall be determined by multiplying the unused accumulated sick leave days of the employee in excess of those days eligible for retirement credit by sixty- five dollars ($65) This payment shall be due and payable to the employee in one
Sample 1
AutoNDA by SimpleDocs
Post-Retirement Unused Sick Leave Payment. A teacher who meets the eligibility criteria established in this Section will also receive a payment of $45 per unused day of sick leave not used by the teacher for service credit through TRS. This payment shall be paid as a lump sum retirement benefit and shall be due and payable within 60 days after the teacher’s final paycheck for regular earnings and after the teacher’s retirement under TRS rules.
Sample 1

Related to Post-Retirement Unused Sick Leave Payment

  • 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.

  • Sick Leave Payment Any employee, at his/her option may choose to receive payment for sick leave earned during the year which is unused at the end of the year. Any such payment must be for the total number of unused sick leave hours earned during the year, must be based on the hourly rate of pay of the employee multiplied by 50 percent, and all hours for which payment is received must be deducted from the employee’s accumulated leave balance. Sick leave used during a current year will be charged against the most recently earned sick leave. Hourly rate of pay is the hourly rate at the end of the contract year.

  • Compensation for Unused Sick Leave 1. Employees who enter County service after July 1, 1979, shall not be eligible for compensation for any of their unused sick leave credits.

  • 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.

  • Pre-Retirement Leave An employee scheduled to retire and to receive a superannuation allowance under the applicable Superannuation Act(s), or who has reached the mandatory retiring age, shall be entitled to:

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Sick Leave Benefit There are two types of sick leave benefits. Annual sick leave is the sick leave days credited each year to each employee in accordance with the provisions of the local collective bargaining agreements. Banked sick leave is previously accumulated unused sick leave to which unused annual sick leave may be added at the end of each anniversary year.

  • Accrued Sick Leave The Board shall provide all employees with a cumulative record 23 of accrued sick leave hours on each pay statement.

  • Accrued 100% sick leave The use of sick leave under this subsection is at the employee's discretion.

  • Vacation Pay on Retirement Termination is as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.