Common use of Use of Sick Leave Accruals Clause in Contracts

Use of Sick Leave Accruals. At the time of retirement, an employee may elect to apply accumulated sick leave credits toward monthly premium payments for retiree medical insurance. The value of the sick leave credits will be set at fifty percent of the employee’s rate of pay at the time of retirement. If the employee is paid for a portion of the total accumulated sick leave credits or if the credits have been used to increase the employee’s service credit under 41-j, only the remaining portion will be used for the payment of retiree medical insurance premiums.

Use of Sick Leave Accruals. At the time of retirement, an employee may elect to apply accumulated sick leave credits toward monthly premium payments payments, (including those for retiree medical insurancethe retiree’s surviving spouse). The value of the sick leave credits will be set at fifty percent of the employee’s rate of pay at the time of retirement. If the employee is paid for a portion of the total accumulated sick leave credits or if the credits have been used to increase the employee’s service credit under 41-j, only the remaining portion will be used for the payment of retiree medical insurance premiums.

Use of Sick Leave Accruals. At the time of retirement, an employee may elect to apply accumulated sick leave credits toward monthly premium payments for retiree medical insurancepayments. The value of the sick leave credits will be set at fifty percent of the employee’s rate of pay at the time of retirement. If the employee is paid for a portion of the total accumulated sick leave credits or if the credits have been used to increase the employee’s service credit under 41-j, only the remaining portion will be used for the payment of retiree medical insurance premiums.