Payment at Time of Retirement. The City will pay to employees at the time of their retirement, fifty (50) percent of unused sick leave up to a maximum of seventy- five (75) days at the employees then current level of compensation; or payable on death of employee to employee's estate or designated beneficiary. Retirement for the purposes of this benefit only shall mean voluntary separation after ten (10) years of service or for disability incurred in the employ of the City.
Payment at Time of Retirement. The City will pay to employees at the time of their retirement, fifty (50) percent of unused sick leave up to a maximum of
Payment at Time of Retirement. Upon disability or separation with the City, the following portion of unused sick leave will be payable to an employee, or payable on the death of an employee to the employee’s estate or designated beneficiary. If the following criteria are met, the employee is eligible for 65% of unused sick leave, up to a maximum of 97.5 days, to be paid upon separation: -Employee retires from service (must be PERA Retirement Eligible and 55 years of age or older); and -Employee has at least 20 years of employment with the City. If the following criteria are met, the employee is eligible for 50% of unused sick leave, up to a maximum of 75 days, to be paid upon separation: -PERA Retirement Eligible Employee, with less than 20 years of service with the City; or -Employee resigns from service with at least 20 years of employment with the City and is not 55 years of age or older. If neither of the above criteria are met, the employee is not eligible for the payment of unused sick leave at the time of separation. In no case will unused sick leave be paid to an employee who is involuntarily terminated from employment.
