Redemption of Sick Leave Hours Upon Retirement Sample Clauses

Redemption of Sick Leave Hours Upon Retirement. Employees retiring from the City under a normal service retirement as established under the terms of this Agreement may redeem unused sick leave at the time of retirement by selecting one of the conversion methods authorized in this subsection—all conversions are computed using the base pay in effect for the applicable conversion period. Credited sick leave from another agency will be deducted from a retiring employee's total sick leave accumulation for the purpose of calculating the redemption. To qualify for use of this benefit, an employee must have at least 25 years of continuous service with the City [15 years for those employees grandfathered under the 15-year retiree-medical benefit (also see Section 7.03.
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Redemption of Sick Leave Hours Upon Retirement. Employees retiring from the City under a normal service retirement as established under the terms of this MOU may redeem unused sick leave at the time of retirement by selecting one of the conversion methods authorized in this subsection—all conversions are computed using the base pay in effect for the applicable conversion period. Credited sick leave from another agency will be deducted from a retiring employee's total sick leave accumulation for the purpose of calculating the redemption. To qualify for use of this benefit, employees hired before July 1, 2005, must have at least 15 years of continuous service with the City, be at least 50 years of age, and utilize one of the sick leave redemption options included in this subsection on or before June 30, 2020. For an employee utilizing sick leave redemption options on or after July 1, 2020, and for an employee hired on or after July 1, 2005, the employee must have at least 25 years of continuous service with the City and be at least 50 years of age or, in the case of option "C.4" of this subsection, be at least 46 ("3% @ 50" retirement plan) or 51 (3% @ 55" retirement plan), as applicable, years of age and within 4 years of his/her planned retirement date/normal retirement age (NRA). This option is not available to employees who retire with a disability retirement.
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Redemption of Sick Leave Hours Upon Retirement of this Agreement. following:
Sample 1
Redemption of Sick Leave Hours Upon Retirement. Employees retiring from the City under a normal service retirement as established under the terms of this MOU may redeem unused sick leave at the time of retirement by selecting one of the conversion methods authorized in this subsection—all conversions are computed using the base pay in effect for the applicable conversion period. Credited sick leave from another agency will be deducted from a retiring employee's total sick leave accumulation for the purpose of calculating the redemption. To qualify for use of this benefit, the employee must have at least 25 years of continuous service with the City and be at least 50 years of age or, in the case of option "C.3" of this subsection, be at least 46 ("3% @ 50" retirement plan), 51 (“3% @ 55" retirement plan), or 53 (2.7% @ 57 retirement plan) as applicable, years of age and within 4 years of his/her planned retirement date/normal retirement age (NRA). This option is not available to employees who retire with a disability retirement.
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Related to Redemption of Sick Leave Hours 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.

  • Accumulation of Sick Leave The unused portion of an Employee's sick leave shall accrue for her future benefit, up to a maximum of one hundred and thirty (130) days.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

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

  • Utilization of Sick Leave with Pay Employees who have earned sick leave credits shall be eligible for sick leave for any period of absence from employment due to any of the following reasons: • illness; • bodily injury; • disability resulting from pregnancy; • necessity for medical or dental care; • if the employee is a victim of domestic violence, harassment, sexual assault, or stalking; or the parent or guardian of a minor child or dependent who is a victim of domestic violence, harassment, sexual assault or stalking, pursuant to ORS 659A.270 through 659A.290; • attendance at an employee assistance program; • exposure to contagious disease; • for the emergency repair of personal assistive devices which are medically necessary for the employee to perform assigned duties; • attendance upon members of the employee’s or the employee’s spouse’s immediate family, or the equivalent of each for domestic partners, (parent, wife, husband, children, brother, sister, grandmother, grandfather, grandchild, or another member of the immediate household) where the employee’s presence is required because of illness or death. • parental leave The employee has the duty to insure that they make other arrangements, within a reasonable period of time, for the attendance upon children or other persons in the employee’s care. Certification of an attending physician or practitioner may be required by the Agency to support the employee’s claim for sick leave if the employee is absent in excess of seven (7) days, or if the Agency has evidence that the employee is abusing sick leave privileges. The Agency may also require such certificate from an employee to determine whether the employee should be allowed to return to work where the Agency has reason to believe that the employee’s return to work would be a health hazard to either the employee or to others. (See Section 9 for FMLA & OFLA.)

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Notification of Sick Leave Days The Board shall notify employees and the Bargaining Unit, when they have exhausted their 11 days allocation of sick leave at 100% of salary.

  • 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.

  • Termination of Check-Off An employee shall cease to be subject to check-off deductions beginning with the month immediately following the month in which he is no longer a member of the bargaining unit.

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