Sick Leave Cash Out Upon Retirement or Death Sample Clauses

Sick Leave Cash Out Upon Retirement or Death. Upon retirement or death, an employee or the employee’s estate will receive cash at the employee’s straight-time hourly rate for one-quarter (1/4) of their sick leave hours. Sick leave will be cashed out at the employee’s base hourly rate. If the bargaining unit elects to place in effect a VEBA plan as provided by this Agreement, employees cashing out sick leave upon retirement shall receive the proceeds in the form of a contribution to their VEBA account.
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Sick Leave Cash Out Upon Retirement or Death. The University will provide a post- retirement medical expense plan (VEBA) that provides for reimbursement of medical expenses to eligible individuals. Instead of cash-out of sick leave on a one (1) hour for four (4) hour basis at retirement, the University shall deposit equivalent funds in the medical expense plan. The VEBA plan will remain in effect unless ten percent (10%) of eligible employees request (in writing) not later than October 1 of any year, that the University conduct a vote to consider discontinuing VEBA.
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Sick Leave Cash Out Upon Retirement or Death. The County will cash out 35 14 percent of an employee’s unused, accumulated sick leave, if the employee has at least five years of 15 service and also: (1) takes a regular retirement with full benefits as a result of length of service or 16 early retirement at age 50, with 20 years of service, under the LEOFF 2 Retirement System; (2) 17 terminates County service by death; or (3) terminates County service after 25 years of service for any 18 reason. All payments shall be made in cash, based on the employee’s base rate as set forth in 19 Addendum “A”.
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Related to Sick Leave Cash Out Upon Retirement or Death

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Vacation Credits Upon Death Earned but unused vacation entitlement shall be made payable, upon termination due to death, to the employee's dependent, or where there is no dependent, to the employee's estate.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Vacation Pay on Retirement Termination is as follows:

  • Death or Disability The Executive's employment shall terminate automatically upon the Executive's death during the Employment Period. If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to the Executive written notice in accordance with Section 12(b) of this Agreement of its intention to terminate the Executive's employment. In such event, the Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the "Disability Effective Date"), provided that, within the 30 days after such receipt, the Executive shall not have returned to full-time performance of the Executive's duties. For purposes of this Agreement, "Disability" shall mean the absence of the Executive from the Executive's duties with the Company on a full-time basis for 180 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Executive or the Executive's legal representative.

  • Vacation Pay Upon Termination When an employee in the bargaining unit is terminated for any reason, he/she shall be entitled to all vacation pay earned and accumulated up to and including the effective date of the termination.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

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