Vacation Time Off - Cash Payment Sample Clauses

Vacation Time Off - Cash Payment. Bargaining unit members who have completed six (6) continuous months of employment and who separate from service by resignation, layoff, dismissal, retirement or death are entitled to a lump sum cash payment for all unused vacation time off. Vacation time off payable under this section shall be computed and paid as prescribed by the Office of Financial Management. No contributions are to be made to the Department of Retirement Systems for lump sum payment of excess vacation leave accumulated nor shall such payment be reported to the Department of Retirement Systems as compensation.
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Vacation Time Off - Cash Payment. Any employee who has been employed for at least six continuous months, who resigns or retires, is laid-off or is terminated by the University shall be entitled to accrued vacation pay.
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Vacation Time Off - Cash Payment. RNs who have completed six (6) continuous months of employment and who separate from service by resignation, layoff, dismissal, retirement or death are entitled to a lump sum cash payment for all unused vacation time off. Vacation time off payable under this section shall be computed at the RN’s regular rate of pay and paid as prescribed by the Office of Financial Management. No contributions are to be made to the Department of Retirement systems for lump sum UWMC-Montlake – WSNA 2021 – 2023 Biennium payment of excess vacation time off accumulated, nor shall such payment be reported to the Department of Retirement Systems as compensation.
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Vacation Time Off - Cash Payment. 34 Bargaining unit members who have completed six (6) continuous months of employment 35 and who separate from service by resignation, xxxxxx, dismissal, retirement or death are 36 entitled to a lump sum cash payment for all unused vacation time off. In the case of 37 voluntary resignation, an employee may be required to provide fourteen (14) calendar 38 days' notice to qualify for such lump sum cash payment. Vacation time off payable under 39 this section shall be computed and paid as prescribed by the Office of Financial 40 Management. No contributions are to be made to the Department of Retirement 41 Systems for lump sum payment of excess vacation leave accumulated nor shall such 42 payment be reported to the Department of Retirement Systems as compensation. 43 44 45 48 49
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Vacation Time Off - Cash Payment. Bargaining unit members who have completed six (6) continuous months of employment and who separate from service by resignation, layoff, dismissal, retirement or death are entitled to a lump sum cash payment for all unused vacation time off. In the case of voluntary resignation, an employee may be required to provide fourteen (14) calendar days' notice to qualify for such lump sum cash payment. Vacation time off payable under this section shall be computed and paid as prescribed by the Office of Financial Management. No contributions are to be made to the Department of Retirement Systems for lump sum payment of excess vacation leave accumulated nor shall such payment be reported to the Department of Retirement Systems as compensation. MEMORANDUM OF UNDERSTANDING BETWEEN THE UNIVERSITY OF WASHINGTON (UNIVERSITY) AND THE SERVICE EMPLOYEES INTERNATIONAL UNION 1199NW MOU – ECONOMIC DISCUSSION During negotiations for the 2021-2023 successor agreement, the parties reached agreement on the following regarding wage discussions:
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Related to Vacation Time Off - Cash Payment

  • Vacation Cash Out In each calendar year, an employee may make a one-time request to cash out and receive payment for up to forty (40) hours of vacation. In order to be eligible to cash out vacation hours, the employee must be a regular status employee and have a remaining vacation balance of sixty (60) hours or more. Vacation leave that has been pre-approved will be considered when the request is made in order to determine if they will maintain the minimum vacation balance requirement.

  • Vacation Time After the Trial Period is complete, the Employee is entitled to days off per year of which is required to be mutually benefiting of the Employer and the Employee. It is required for the Employee to give notice before scheduling their vacation in accordance with Company policy. Any unused Vacation Time shall be (check one): ☐ - Converted to cash at the end of the year at a rate of $ per day. ☐ - Eligible to rollover up to days to the next year. ☐ - Forfeited at the end of the year. ☐ - Other: .

  • Sick Leave Separation Cash Out At the time of retirement from state service or at death, an eligible employee or the employee’s estate will receive cash for their compensable sick leave balance on a one (1) hour for four (4) hours basis. For the purposes of this Section, retirement will not include “vested out of service” employees who leave funds on deposit with the retirement system.

  • Sick Leave Cash Out Eligible employees may elect to receive monetary compensation for accrued sick leave as follows: In January of each year an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. No sick leave hours may be converted which would reduce the calendar year end balance below four hundred eighty (480) hours. Monetary compensation shall be paid at the rate of twenty-five percent and shall be based on the employee’s current salary. All converted hours will be deducted from the sick leave balance. Employees who separate from University service due to retirement or death shall be compensated for the unused sick leave accumulation from the date of most recent hire in a leave eligible position with the State of Washington at the rate of 25%. Compensation shall be based upon the employee’s wage at the time of separation. For the purpose of this section, retirement shall not include vested out of service employees who leave funds on deposit with the retirement system. Former eligible employees who are re-employed within three (3) years of their separation from service shall be granted all unused sick leave credits, if any, to which they are entitled at time of separation.

  • Vacation Buy Back Employees shall have the option of requesting pay in lieu of time off up to a maximum of 144 hours of vacation time each year, during each year of the contract in increments of eight (8) hrs. Such requests are subject to the approval of the department head and the availability of funds.

  • Cash Payment The Employee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.

  • Paid Time Off (PTO) Executive shall earn and accrue paid-time-off covering vacation and sick time benefits at the rate of twenty (20) days per year for employment periods of up to five years of service. The PTO accrual rate shall automatically increase by five (5) additional days for each additional 5 years of service up to maximum of thirty (30) days per year after 10 years of service. For example, after five years of service, the annual PTO accrual rate shall increase to twenty-five (25) days. Unused PTO shall carry over to the next year, but Executive shall cease accruing further PTO at any time Executive has accrued two times his annual accrual rate. Unused PTO days which are not in excess of two-times the annual accrual rate shall be paid in a cash lump sum payment promptly after Executive’s termination of employment.

  • Compensatory Time Off An employee shall have the option to elect to take compensatory time off in lieu of cash compensation for overtime work. Compensatory time off shall be granted within twelve

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