Common use of TERMINAL LEAVE Clause in Contracts

TERMINAL LEAVE. Terminal leave shall be paid at sixty percent (60%) of the final rate of pay for a maximum of one hundred twenty (120) days of unused accumulated sick leave days accumulated prior to July 1, 2010, either to his/her estate upon death while in the Board’s employ, or upon retirement under the provisions of the Michigan Public Schools Employees' Retirement Act. Employees shall not receive any terminal leave pay for accumulated unused paid time off (PTO).

TERMINAL LEAVE. Terminal leave An employee hired before July 1, 2010 who retires from the District in accordance with the State of Michigan Retirement Program shall be paid compensated at sixty percent (60%) of the final her/his current rate of pay for a maximum of one hundred twenty (120) days each day of unused accumulated sick leave days accumulated prior to before July 1, 2010, either up to his/her estate upon death while in the Board’s employ, or upon retirement under the provisions a maximum of the Michigan Public Schools Employees' Retirement Actsixty-five (65) days. Employees There shall not receive any be no terminal leave pay for accumulated unused paid time off (PTO)off.

TERMINAL LEAVE. Terminal leave shall be paid at sixty percent (60%) of the final rate of pay for a maximum of one hundred twenty (120) days of unused accumulated sick leave days accumulated prior to July 1, 2010days, either to his/her estate upon death while in the Board’s employ, or upon retirement under the provisions of the Michigan Public Schools Employees' Retirement Act. Employees shall not receive any terminal leave pay for accumulated unused paid time off (PTO).