Common use of Sick Leave Pay-Off Clause in Contracts

Sick Leave Pay-Off. Upon termination of employment by death or upon retirement in accordance with the provisions of the Public Employee’s Retirement Law, as amended; or separation, unless terminated for just cause, after ten (10) years of continuous employment with the Agency, an employee or their beneficiary may choose to receive payment for up to forty-five (45%) percent of employee’s accumulated sick leave for up to 1,040 hours (468 hours maximum pay off) computed on the basis of the hourly equivalent of such employee’s monthly salary as of the date of death, retirement or separation. An employee may accrue sick leave at the current rate above 1,040 hours, but hours in excess of 1,040 will not be eligible for the 45% pay-off.

Sick Leave Pay-Off. Upon termination of employment by death or upon retirement in accordance with the provisions of the Public Employee’s 's Retirement Law, as amended; or separation, unless terminated for just cause, after ten (10) years of continuous employment with the Agency, an employee or their beneficiary may choose to receive payment for up to forty-five (45%) percent of employee’s 's accumulated sick leave for up to 1,040 hours (468 hours maximum pay off) computed on the basis of the hourly equivalent of such employee’s 's monthly salary as of the date of death, retirement or separation. An employee may accrue sick leave at the current rate above 1,040 hours, but hours in excess of 1,040 will not be eligible for the 45% pay-off.

Sick Leave Pay-Off. Upon termination of employment by death or upon retirement in accordance with the provisions of the Public Employee’s =s Retirement Law, as amended; or separation, unless terminated for just cause, after ten (10) years of continuous employment with the Agency, an employee or their beneficiary may choose to receive payment for up to forty-five (45%) percent of employee’s =s accumulated sick leave for up to 1,040 hours (468 hours maximum pay off) computed on the basis of the hourly equivalent of such employee’s =s monthly salary as of the date of death, retirement or separation. An employee may accrue sick leave at the current rate above 1,040 hours, but hours in excess of 1,040 will not be eligible for the 45% pay-off.