Retirement Sick Leave Benefit Sample Clauses

Retirement Sick Leave Benefit. Upon retirement, a full-time twelve-month work year unit member shall receive a cash payment for unused sick days up to a maximum of two hundred (200) days, as specified in this contract, equal to nine (9%) percent of his/her average per diem salary for the last five (5) years (notwithstanding the foregoing, the percentage shall be l5% for unit members who are members of the NYS Teachers' Retirement System - Tier l). Upon retirement, a full-time ten-month work year unit member shall receive a cash payment for unused sick days up to a maximum of one hundred eight-five (185) days, as specified in this contract, equal to nine (9%) percent of his/her average per diem salary for the last five (5) years. For purposes of this provision only, the per diem calculation for Chairpersons shall be based on one hundred eighty (180) days and for Administrative Staff persons two hundred (200) days. Full-time unit members who otherwise resign or terminate their employment with the College are not eligible for this benefit. To be eligible for this retirement benefit, a full-time unit member must be at least fifty-five
Sample 1
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Retirement Sick Leave Benefit. Administrators: Upon retirement from this district (as determined by the N.J.T.P.A.F.) an administrator will be reimbursed for unused sick leave with a limit of 150 days if he or she has accumulated a minimum of 120 sick days. Payment shall be at the following rates: $100 per day. Maximum reimbursement will be $15,000. Supervisors: Upon retirement from this district (as determined by the N.J.T.P.A.F.) a supervisor will be reimbursed for unused sick leave with a limit of 150 days if he or she has accumulated a minimum of 100 sick days. The supervisor must have had at least ten (10) years of service in the school district prior to retirement. Payment shall be at the following rates: $100 per day. Maximum reimbursement will be $15,000. Vacation
Sample 1
Retirement Sick Leave Benefit. Upon retirement from the district, a Central Administrator will be reimbursed for unused sick leave. Payment shall be based on 72% for 2006-2007; 72% for 2007-2008; 72% for 2008-2009 and 72% for 2009-2010 of the per diem. Any Central Administrator hired after July 1, 2006, would not be eligible for sick time per diem buyout to exceed 50%. The per diem rate shall be calculated on a twelve (12)-month basis or two hundred forty (240) days per year. Reimbursement will be made over a period of three
Sample 1

Related to Retirement Sick Leave Benefit

  • Sick Leave Benefits Sick leave is an indemnity benefit and not an acquired right. A Nurse who is absent from a scheduled shift on approved sick leave shall only be entitled to sick leave pay if the Nurse is not otherwise receiving pay for that day, and providing the Nurse has sufficient sick leave credits.

  • Leave Benefits Paid leave is available to the Superintendent when the following specific conditions are met: (1) the Superintendent is currently employed by the District and (2) the paid leave day is taken on a day Superintendent would otherwise be expected to be at work.

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

  • 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.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Retirement Credit Retirement credit for such periods of leave without pay shall be governed by the rules and regulations of the Division of Retirement and the provisions of Chapter 121, Florida Statutes.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Retirement Bonus 22:01 Employees retiring in accordance with the following:‌

  • 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.

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