RETIREMENT PAY FOR UNUSED ACCUMULATED SICK DAYS Sample Clauses

RETIREMENT PAY FOR UNUSED ACCUMULATED SICK DAYS. The following provisions shall apply to all eligible employees. The Board shall provide the aggregate maximum sum of one hundred thousand ($100,000.00) dollars ("maximum") for each of the two years of this contract for payment of unused sick days upon retirement. Upon retirement, professional staff shall receive, subject to the maximum, thirty five ($35.00) dollars per unused sick day. Upon retirement, support staff shall receive, subject to the maximum, twenty-five ($25.00) dollars per unused sick day. Employees receiving this benefit shall have the option of delay of receipt of the payment until January 1 following the year of retirement. In the event that the number of employees eligible for this benefit, and/or the number of sick days claimed for this benefit result in exceeding the maximum in a given year, the payment to each employee in that year shall be reduced by the appropriately prorated amount.
Sample 1
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Related to RETIREMENT PAY FOR UNUSED ACCUMULATED SICK DAYS

  • Sick Leave Accumulation Employees shall be credited with sick leave at the rate of 8 (eight) days per year. The maximum number of days that employees may accrue is as follows: 2020-2023 60 days Sick days are non-compensable at the time of termination of employment.

  • Vacation Accumulation (a) Vacations are not cumulative from year to year.

  • Accumulation of Vacation Leave Credits 31.1.1 An employee shall earn in respect of each fiscal year, annual vacation leave with pay at the following rates for each calendar month in which the employee receives at least seventy-five (75) hours’ pay:

  • Accumulated Sick Leave ‌ The Employer shall inform all employees at least once each year of the number of sick days accumulated and shall make the information available to an employee on request.

  • Maximum Accumulation Maximum accumulation amounts apply only to the amount of annual leave that may be carried over from one leave year to the next, and do not limit accumulated leave balances during the leave year.

  • 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.

  • Holiday Coinciding with a Day of Vacation Where an employee is on vacation leave and a day of paid holiday falls within that period, the paid holiday shall not count as a day of vacation.

  • 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.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

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