Common use of Section 8.3 Clause in Contracts

Section 8.3. 43 Upon retirement PERS 1 employees will not cash out more than thirty (30) days of vacation in the final 44 two (2) years of employment, that cash out generates “excess cost” xxxxxxxx for PERS 1 participants to the 45 District. In the event the above-described “excess cost” cash out has taken place; the employee must 46 reimburse the District for the vacation cashed out which generated the excess billing liability. The 47 employee will then be required to take that amount cashed out beyond the thirty (30) days in the form of 48 vacation time off, prior to retirement.

Section 8.3. 43 14 Upon retirement retirement, PERS 1 employees will not cash out more than thirty (30) days of vacation in the final 44 15 two (2) years of employment, that cash out generates “excess cost” xxxxxxxx for PERS 1 participants to the 45 16 District. In the event the above-described “excess cost” cash out has taken place; the employee must 46 17 reimburse the District for the vacation cashed out which generated the excess billing liability. The 47 18 employee will then be required to take that amount cashed out beyond the thirty (30) days in the form of 48 19 vacation time off, prior to retirement.