Terminal Leave Payment. Terminal leave pay shall be paid to employees hired before July 1, 2010, who qualify and retire under the provisions of the Michigan Public School Employees Retirement System, or to the estate upon death while in the District’s employ. Terminal leave shall be paid to the employee at sixty percent (60%) of the final rate of pay for unused sick leave days accumulated before July 1, 2010, within maximum days as specified below. The maximum of unused accumulated days depends upon the length of employment, and is as follows: At least ten (10) but less than fifteen (15) years 80 Days At least fifteen (15) but less than twenty (20) years 100 Days At least twenty (20) or more years 120 Days
Terminal Leave Payment. Terminal leave pay shall be paid to employees who qualify and retire or terminate under the provision of the Michigan Public School Employees Retirement Act, or to his estate upon death, at the following rates: 10 through 14 years - 1/2 of 60 days pay 15 through 19 years - 1/2 of 80 days pay 20 years or more - 1/2 of 100 days pay Terminal leave payments will be based upon the drivers regular runs bid on at the annual bid meeting. Employees terminated for cause shall not be eligible for terminal leave pay.
Terminal Leave Payment. The following table of leave payments is based on any staff member who has a minimum of ten (10) years of service to the College: If at retirement staff member attains age: A terminal leave payment of the number of years of service times the following will be paid: 65, 66, 67, 68, 69, or 70 Or retires after age 55 if retirement is the result of ill health sufficient to qualify for disability retirement under the Michigan Retirement System for Public School Employees Act One hundred twenty-five ($125) dollars 63 or 64 One hundred fifty ($150) dollars 60, 61, or 62 One hundred seventy ($170) dollars 58 or 59 Two hundred ($200) dollars 56 or 57 Two hundred twenty-five ($225) dollars 55 Or has twenty-five (25) years created service under the Michigan Retirement System for Public School Employees Act and attains age 50, 51, 52, 53, or 54 Two hundred fifty ($250) dollars Year’s Credit – For purpose of terminal leave pay, a year’s credit will be based on a complete, contractual year of full-time service at the College.
Terminal Leave Payment. 1. If a Custodial/Maintenance or Secretarial Classification employee is retiring and he/she has at least ten (10) years experience in the District, he/she is entitled to terminal leave pay using the formula found in either a. or b. below but not both. If a district is annexed to the Hastings Area District, any experience in that district shall be considered as Xxxxxxx Area District experience.
Terminal Leave Payment. In appreciation for services to the district, a terminal leave payment of 1/4 of 1% per year of the retiring year's pay, not to exceed a maximum of 5%, will be paid to all teachers qualifying for retirement under the Michigan Public School Employee Retirement System, upon retirement, provided this teacher shall have been employed in the district for ten (10) years or more. In addition the teacher will receive one half (1/2) of the current substitute teacher pay for each day of unused sick leave up to a maximum of ninety five (95) days.
Terminal Leave Payment. Upon retirement into the MPSERS system an employee, with ten (10) or more years of service to the District, shall be entitled to a sick payout of $40 per day for accumulated sick days through their career. This will also be paid out as a death benefit to surviving beneficiary.
Terminal Leave Payment. A regular driver who retires from the school district with ten (10) years of service into the Michigan Public School Employees Retirement System (MPSERS) shall be paid 30% of their accumulated sick leave. Members with 15 years or more will be paid 35% of their accumulated sick leave.
Terminal Leave Payment. Terminal leave payment shall be paid to individual Union members upon retirement from school employment under the following conditions:
Terminal Leave Payment. In appreciation for services to the district, a terminal leave payment of 1/4 of 1% per year of the retiring year's pay, not to exceed a maximum of 5%, will be paid to all teachers qualifying for retirement under the Michigan Public School Employee Retirement System, upon retirement, provided this teacher shall have been employed in the district for ten (10) years or more. Periods of unpaid leave including workers compensation and layoff will not constitute a disruption in service but will not be counted. In addition the teacher will receive one half (1/2) of the current substitute teacher pay for each day of unused sick leave up to a maximum of ninety five (95) days. Except as set forth herein, in order to receive payment under this provision, a teacher must be separating from employment at the end of the last teacher work day in the contract year.
Terminal Leave Payment. A regular driver who retires from the school district into the Michigan Public School Employees Retirement System (MPSERS) shall be paid one (1) day’s pay for each day of accumulated sick leave at the rate identified on his/her regular daily routes as follows: 5 years Not to exceed $500 10 years Not to exceed $1,500 15 years Not to exceed $1,750 20 years Not to exceed $2,000 25 years Not to exceed $2,250 30 years Not to exceed $2,500 35 years Not to exceed $3,000 40 years Not to exceed $3,250
