Sick Leave Buy Back Sample Clauses

Sick Leave Buy Back. To encourage and reward employees who maintain good job attendance, the parties agree to the following incentive award: Employees who utilize two (2) sick leave days or less each assigned school calendar year and year-round employees who utilize three (3) sick leave days or less during each assigned school calendar year - upon request – shall receive payment for up to eight (8) days of sick leave, provided the employee worked the full assigned calendar year.* The following procedures apply to the payment of sick leave under this section.
AutoNDA by SimpleDocs
Sick Leave Buy Back a. Employees who retire shall be entitled, upon written request to the SPS's Payroll Services, to compensation for all unused Sick Leave up to the one hundred and eighty (180) day maximum at the ratio of 4:1 at their per diem rate. As allowed by law, the funds will be put into a VEBA account.
Sick Leave Buy Back. Employees who have accrued 360 hours of sick leave and who have used less than 6 days during a fiscal year may at the end of that fiscal year sell back up to 12 unused sick leave days. Sick leave used for bereavement leave will not count as part of the six (6) days of use during a fiscal leave. Half of the unused sick days will be paid according to the language in Subd. 1 and the other half will be paid according to the language in Subd. 2 of this Section:
Sick Leave Buy Back. Employees, upon leaving the employ of the Board, shall not be entitled to compensation for accumulated sick leave; provided, however, that any employee who is eligible to retire in accordance with the State Retirement Act (regardless of whether such employee is enrolled in the retirement program under such Act or is enrolled in the Optional Retirement Program established under Chapter 15A, §40) and who, having given the President not less than three (3) months’ advance written notice thereof, does retire shall be paid twenty percent (20%) of the value of his/her unused accumulated sick leave at the time of his/her retirement, which value shall be calculated on the basis of such employee’s rate of pay as it is on the date immediately prior to the date on which his/her retirement has effect. The President, for reasons deemed satisfactory to him/her, may waive the notice required by the preceding proviso. In calculating the daily rate of pay of any member of the bargaining unit, the following formulas shall be used:
Sick Leave Buy Back. The University will develop a voluntary program for employees with vested sick leave benefits to receive a one-time cash payment in exchange for non payment of accrued sick leave upon leaving University employment. Employees who enter the program will continue to accrue sick leave for use as paid time off, but will not receive a cash payment for any accrued sick leave upon leaving University employment. Program details, operation, duration and eligibility criteria shall be determined by the University. The Union may request consultation on program details.
Sick Leave Buy Back. Leaving City (Applies to SB1, SC1, and SD1 only) City agrees to compensate, in cash, employees leaving City service after ten (10) cumulative years of employment, uninterrupted by any single period of absence in excess of one (1) year, for thirty-three and one-third percent (33 1/3%) of accrued sick leave.
Sick Leave Buy Back. To encourage and reward employees who maintain good job attendance, the parties agree to the following incentive award:
AutoNDA by SimpleDocs
Sick Leave Buy Back. Full time employees having accumulated ten (10) or more of their fifteen (15) sick days for that year, will have the option of being paid five (5) days wages in lieu of carrying over five (5) of their sick days. Any employee wishing to exercise the sick leave buy back option must exercise this option by December 1 of the year in which the requirements have been met. An employee shall make this request in writing to the Payroll/Benefits Manager. Any decision to exercise this option subsequent to December 1 of the year in which the requirements have been met shall not be considered.
Sick Leave Buy Back. Employees may cash in unused sick leave above an accumulation of sixty (60) days from the previous year’s accumulation, at a ratio of one full day’s monetary compensation for four (4) accumulated sick leave days. At the employee’s option, they can cash-out their unused sick leave days in January of the school year following any year in which a minimum of sixty (60) days of sick leave is accrued and each January thereafter, at the rate equal to one day’s monetary compensation of the employee for each four (4) full days of accrued sick leave. The employee’s sick leave accumulation shall be reduced four (4) days for each day compensated. No employee may receive compensation for sick leave accumulated in excess of one day per month. At the time of separation from school district employment due to retirement* or death, an eligible employee or the employee’s estate shall receive remuneration at a rate equal to one (1) day’s current monetary compensation of employee for each four (4) days accrued sick leave for illness or injury. (RCW 28A.400.210) *For the purpose of this provision, retirement shall be defined as when an employee is eligible to receive benefits under Washington State Teachers Retirement System (WSTRS).
Sick Leave Buy Back. On separation in good standing, an employee having a minimum of 60 days and not more than 119 days of sick leave accrued shall receive compensation equal to 20% of all days accrued at the employee’s current straight pay rate; an employee having a minimum of 120 days of sick leave accrued shall receive compensation equal to 40% of all days accrued at the employee’s current straight pay rate.
Time is Money Join Law Insider Premium to draft better contracts faster.