SEPARATION AND SEVERANCE PAY. 1.1 The Board will pay retiring employees who are eligible under the provisions of S.E.R.S. to retire using the following formula: Up to thirty (30) days of accumulated sick leave by the employee’s per diem rate at the time of retirement, plus where applicable, one-quarter (1/4) of the accumulated sick leave days in excess of 120 days by the same rate. Maximum allowable days total: 60 days.
Appears in 3 contracts
Samples: Negotiated Agreement, Negotiated Agreement, School District Classified Employees
SEPARATION AND SEVERANCE PAY. 1.1 The Board will pay retiring employees who are eligible under the provisions of S.E.R.S. to retire using the following formula: Up to thirty (30) days of accumulated sick leave by the employee’s per diem rate at the time of retirement, plus where applicable, one-quarter (1/4) of the accumulated sick leave days in excess of 120 one hundred twenty (120) days by the same rate. Maximum allowable days total: 60 sixty (60) days.
Appears in 2 contracts
Samples: Negotiated Agreement, Negotiated Agreement
