Examples of Severance Pay in a sentence
Severance pay is based on the employee’s gross salary and is calculated at the rate of two weeks pay for each completed year and portion of a year of creditable service.
Severance pay resumes, without any recomputation, when the employee separates from the nonqualifying time- limited appointment.
Severance pay accrues on a day- to-day basis following the recipient’s separation from Federal employment.
Both enhanced and regular Severance pay to seniority employees shall be calculated on the annualized salary in effect at the time of lay-off, according to Schedule H attached hereto.
Severance pay shall be dispersed in a lump sum payment directly to the Educational Support Professional.