Sick Leave Buyback Incentive Sample Clauses

Sick Leave Buyback Incentive. A teacher who uses three (3) or less days of sick time within a fiscal year will be eligible to redeem all or a portion of the remaining balance of days granted within that year for additional compensation, (twelve (12) to a maximum of fifteen (15) days). Any remaining days will be rolled over to accumulated sick time. To be eligible to redeem sick time, a teacher must have sixty (60) or more accumulated sick days prior to the beginning of the fiscal year they intend to redeem sick days for additional compensation. Days may be redeemed at the following rates: o the first half of the days eligible may be redeemed at 25% of the teachers per diem rate, (1 to 7.5 days) o any remaining eligible days after the first half of the days have been redeemed may be redeemed at 33% of the teacher’s per diem rate, (6 to 7.5 days) To notify the district of the number of days being requested for redemption, the sick day redemption form must be submitted to the business office by last day of school. Payments will be made in July following the employees’ regular compensation method (ie. direct deposit or mailed physical check). In the event of conflicting records of days taken, the official record from payroll will be used as the official record.