Sick Leave Buyout. Employees who separate from state service due to retirement or death shall be compensated for their unused sick leave accumulation at the rate of 25%. Compensation shall be based upon the employee’s salary at the time of separation. For the purpose of this subsection, retirement shall not include “vested out–of–service” employees who leave funds on deposit with the retirement system. Compensation for unused sick leave shall not be used in computing the retirement allowance; therefore no contributions are to be made to the retirement system for such payments, nor shall such payments be reported as compensation. An employee who separates from the classified service for any reason other than retirement or death shall not be paid for accrued sick leave. Annually, employees may also buy out up to twelve (12) days of sick leave per year at the rate of 25% so long as their total accumulation after the buyout is sixty (60) days or more.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
