Retirees - Pro Rata Vacation. (a) Vacation pay at time of retirement Vacation hours remaining may, at the employee's option, be taken as time off or paid in a lump sum at retirement. In addition, the employee will receive a lump sum payment for a pro rata portion of the following year's vacation based upon the number of full months elapsed prior to the employee’s retirement date. The fraction of a pro rata portion to be paid is determined by dividing by 12, the number of full months from January 1 to the date of retirement. Exceptions to the general rule governing the calculation of pro rata vacation are:
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Retirees - Pro Rata Vacation. (a) A. Vacation pay at time of retirement Vacation hours remaining may, at the employee's option, be taken as time off or paid in a lump sum at retirement. In addition, the employee will receive a lump sum payment for a pro rata portion of the following year's vacation based upon the number of full months elapsed prior to the employee’s 's retirement date. The fraction of a pro rata portion to be paid is determined by dividing by 12, the number of full months from January 1 to the date of retirement. Exceptions to the general rule governing the calculation of pro rata vacation are:
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Samples: Usec Inc
