Upon Retirement. An employee who retires from active service with the Employer will be entitled to receive a percentage of his accumulated sick leave as follows: Less than 10 years township service not eligible 10 years township service 25% accumulated sick leave 15 years township service 30% accumulated sick leave 20 or more years township service 35% accumulated sick leave Payment shall be based upon the employee's rate of pay at the time of retirement and shall not exceed a maximum payout of sixteen hundred (1,600) hours.
Appears in 3 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement