Sick Leave Balloon Sample Clauses

Sick Leave Balloon. Option 1: A bargaining unit member who provides five (5) years advanced notice of retirement or resignation, and who has one hundred and one (101) accumulated sick days, and who has at least fifteen (15) years of service with Southwestern School District, will be eligible for a sick leave balloon benefit. To receive this benefit, the bargaining unit member must provide the district with an irrevocable letter effective five (5) years from date of notification of retirement or resignation. Upon receipt of the bargaining unit member’s letter of resignation, the District will immediately increase the bargaining unit member’s accumulated sick leave so that the total of such leave available to the bargaining unit member as creditable service to TRS will be equal to three hundred ten (310) days. Option 2: A bargaining unit member who provides five (5) years advanced notice of retirement or resignation, and who has fifty-one (51) accumulated sick days, and who has at least fifteen (15) years of service with Southwestern School District, will be eligible for a sick leave balloon benefit. To receive this benefit, the bargaining unit member must provide the district with an irrevocable letter effective five (5) years from date of notification of retirement or resignation. Upon receipt of the bargaining unit member's letter of resignation, the District will immediately increase the bargaining unit member's accumulated sick leave so that the total of such leave available to the bargaining unit member as creditable service to TRS will be equal to one hundred forty (140) days. Bargaining unit members who receive the sick leave balloon benefit provided for herein must retire with thirty-five (35) years of total reportable creditable service upon his/her last day of service to the District. In the event the bargaining unit member would not have thirty-five (35) years of total reportable creditable service upon his/her intended date of retirement, the member may work until satisfying the thirty-five (35) year creditable service requirement or retire and accept a discounted annuity.

Sick Leave Balloon. A bargaining unit member who provides five (5) years advanced notice of retirement or resignation, and who has one hundred and one (101) accumulated sick days, and who has at least fifteen (15) years of service with Southwestern School District, will be eligible for a sick leave balloon benefit. To receive this benefit, the bargaining unit member must provide the district with an irrevocable letter effective five (5) years from date of notification of retirement or resignation. Upon receipt of the bargaining unit member’s letter of resignation, the District will immediately increase the bargaining unit member’s accumulated sick leave so that the total of such leave available to the bargaining unit member as creditable service to TRS will be equal to three hundred ten (310) days. Bargaining unit members who receive the sick leave balloon benefit provided for herein must retire with thirty-five (35) years of total reportable creditable service upon his/her last day of service to the District. In the event the bargaining unit member would not have thirty-five (35) years of total reportable creditable service upon his/her intended date of retirement, the member may work until satisfying the thirty-five (35) year creditable service requirement or retire and accept a discounted annuity.

Sick Leave Balloon. Any certificated employee planning retirement under the TRS, and having at least fifteen (15) years of continuous service in Wood River-Hartford District 15 as well as in excess of 140 days of accumulated sick leave, may also request, in writing, an additional retirement incentive in the form of a balloon grant of additional sick leave days provided that a certificated employee must submit his/her written request hereunder, along with an irrevocable letter of retirement, at least five (5) years in advance of the effective date of retirement. The written request may be for a grant of additional sick days sufficient to increase the certificated employee’s unused, accumulated sick leave to over 170 days (or in extraordinary cases, over 340 days) with the goal of providing additional service credit for retirement purposes. The Board will consider such requests on a case-by-case basis, and may grant or deny additional sick leave days in its discretion; but such decision shall not be arbitrary or capricious, and approval will not be unreasonably withheld. In case of denial, the Board will, upon request, present evidence in writing to the union president within 10 school days as to why it was not beneficial to the District. The union may appeal this decision to the Board by providing evidence of its own to demonstrate a substantial financial benefit of granting sick leave, and if the union can prove that the District would realize a substantial economic benefit from granting leave, it will be granted. Any grant of additional sick leave days must be in accordance with applicable TRS rules, and the number of days granted may not exceed the following calculation: the number of work days remaining until the certificated employee’s retirement date or three hundred forty (340) days, whichever is less, minus the total number of unused accumulated sick leave days the certificated employee has on record with the District and TRS at the date of the written request. The parties recognize that a primary intent of this provision is to encourage retirement at the certificated employee’s earliest opportunity; accordingly, in most instances, a certificated employee must provide the District with a written irrevocable letter of retirement to be effective upon the conclusion of the school year in which he or she will first become eligible to retire without incurring a reduced pension or ERO costs, in order to be considered for this incentive. The employee acknowledges the District...

Sick Leave Balloon. A teacher who provides more than four (4) years advanced notice of retirement and at the time of notice has at least ten (10) years of service with Bond County CUSD #2, shall be awarded a sick leave balloon benefit. Upon board approval of the employee's irrevocable retirement letter, the employer shall immediately increase the employee's accumulated sick leave so that the total of such leave available to the employee shall be three hundred forty days (340). This benefit shall be awarded prior to the teacher’s fourth (4th) school year prior to retirement, not to exceed 340 days of total accrued sick leave.

Sick Leave Balloon. If an employee provides the Board with an irrevocable notice of retirement to be effective at the end of a school year, and delivers this notice of retirement on or before the first day of the school year after which the employee shall retire, 240 sick days (IMRF), the Board will add up to thirty (30) additional sick leave days to the employee's accumulated sick leave not to exceed a total of 240 useable sick days (IMRF). The employee shall not, under any circumstance, be compensated for unused sick leave provided by this clause (pursuant to sick leave on retirement). Sick leave provided by this clause shall be deducted from the employee's accumulated sick leave total before compensation for sick leave on retirement is computed as covered in (B) above. According to retirement system rules, sick days provided by this clause must be useable in the last year of employment.

Sick Leave Balloon. A teacher who provides five (5) years advanced notice of retirement and at the time of notice has 130 accumulated sick leave days and at least 15 years of service with ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ #▇▇▇, shall be awarded a sick leave balloon benefit. This benefit shall be awarded in the teacher’s fifth year prior to retirement up to a maximum of 180 days not to exceed 310 days of total accrued sick leave. In order to receive this benefit the employee shall provide the District with an irrevocable letter effective five (5) years from the date of notification of retirement. Employee is still to receive yearly, normal sick-leave allotment with a cap not to exceed 340 days upon retirement. The parties agree this provision will extend beyond the duration of the current collective bargaining agreement until the conditions herein described have been satisfied.

Sick Leave Balloon. A. Sick Leave Balloon- One Year: A Teacher provided he/she has at least 75 days of accumulated sick leave may petition the Board of Education for additional sick leave days for the purpose of allowing the teacher to count up to 170 days of accumulated sick leave toward the teacher’s creditable service to TRS. The number of days the Board will grant will be 180 minus the number of accumulated sick leave days of the teacher. In order for a teacher to receive the additional sick days, he/she must submit his/her request by August 1st immediately preceding the last year of employment along with his/her irrevocable letter of resignation. The District will not be responsible for this sick leave balloon option if, as a result of doing so, the District would be required to pay a penalty, a present value payment, excess salary payment and/or other additional payment to the Illinois Teachers’ Retirement System pursuant to PA 100-0587 or other applicable law, rule or regulation.

Sick Leave Balloon i. Certified employees who have completed at least ten (10) years of full-time creditable service to Bethalto Community Unit School District No. 8 who provide five (5) years advanced notice of retirement shall be eligible for a sick leave balloon benefit. In order to receive this benefit, the employee shall provide the District with an irrevocable letter on or before May 1st effective five (5) years from the date of notification and be at least fifty-five (55) years of age by December 31st of the year of retirement with twenty (20) or more years of creditable service with the Illinois Teachers’ Retirement System. Upon receipt of the employee's letter of resignation and acceptance by the Board, the employer shall immediately add 170 days to the employee's accumulated sick leave. This sick leave balloon benefit expires on June 30, 2028. ii. Any certified employee who would cause the DIstrict to incur an additional TRS payment, due to not following the parameters of the sick leave balloon language, would forfeit the additional days gifted by the Board.

Sick Leave Balloon. Two Years: A Teacher provided he/she has at least 150 days of accumulated sick leave may petition the Board of Education for additional sick leave days for the purpose of allowing the teacher to count up to 340 days of accumulated sick leave toward the teacher’s creditable service to TRS. The number of days the Board will grant will be 360 minus the number of accumulated sick leave days of the teacher. In order for a teacher to receive the additional sick leave days, he/she must submit his/her request along with his/her irrevocable letter of resignation by August 1st immediately preceding the last year of employment at least two (2) school years prior to the date of retirement. The District will not be responsible for this sick leave balloon option if, as a result of doing so, the District would be required to pay a penalty, a present value payment, excess salary payment and/or other additional payment to the Illinois Teachers’ Retirement System pursuant to PA 100-0587 or other applicable law, rule or regulation.