Sick Leave Buy Out. An employee who has seven (7) employment years or more of service with the College may elect at the time of retirement from active service under the Retirement System Law (SERS/STRS) to be paid in cash for one-fourth (1/4) of the value of his/her accrued but unused sick leave credit. Such payment shall be considered to eliminate all sick leave credit accrued at that time. The maximum payment which may be made under this provision shall be one-fourth (1/4) of two hundred (200) days.
Sick Leave Buy Out. At the end of any school year (June 30) an employee who has not used more than three (3) sick leave days that school year and who has sixty (60) or more accumulated unused sick leave days may exercise the option to receive payment from the District equal to the value of 80% of any unused days earned during that school year. An eligible employee who applies for a cash pay-out will receive a gross payment equal to the employee’s daily rate of pay on the employee’s last regular employment day of that school year times 80% of the number of unused sick leave days earned that school year. It is understood that this payment shall be subject to all legal withholdings and is not tax sheltered. The above option may be exercised by the employee if he/she has accumulated sixty (60) or more days of unused sick leave at the end of any school year (June 30) and has not used more than three (3) sick leave days that school year as set forth above.
Sick Leave Buy Out. Any support staff employee covered by the bargaining units who has ten (10) years of continuous service with the same employer, inclusive of bona fide leaves of absence, and who has attained the age of 55, upon employment termination (except for misconduct or poor job performance) shall be paid for accrued unused sick leave according to the following formula: fifty dollars ($50.00) will be paid for each unused sick day to a maximum payment of $7,500. Payment will be made to the employee or his estate in three equal installments, the first due within 60 days of the employee’s departure and the remaining two on the first and second anniversary of termination. This is a once-in- a-lifetime benefit and may not be repeated if a former employee who has received this payment is subsequently rehired.
Sick Leave Buy Out. At the close of the calendar year an employee may request the Employer to compensate said employee for unused sick leave accumulated under this Agreement, subject to the following:
Sick Leave Buy Out. 7.3.7-1 Upon retirement from the teaching profession, a teacher who has served his district for a minimum of 15 years and has reached the age of 55, shall be entitled to compensation for unused sick days. This will be at a rate of fifty ($50.00) dollars per unused sick day, subject to the maximum accrual allowed in paragraph 7.3.1. The maximum liability to the Board per eligible teacher will not exceed $50 multiplied by the number of days in the teacher’s contract year. The benefit will be paid in three equal annual installments starting on the fifteenth of January of the year following retirement, or on a different schedule if mutually agreed upon by the Superintendent and teacher.
Sick Leave Buy Out. (Annual and Retirement) and Voluntary Employee Beneficiary Association Plan (VEBA)
Sick Leave Buy Out. In recognition of years of service to the district, and at retirement, any employee who has served the district for a period of at least 20 consecutive years will be granted a one time payment equal to $25.00 times the number of accumulated sick leave days up to the maximum number of days provided in this contract. The employee must notify the board on or before November 1st of the year prior to the school year of retirement.
Sick Leave Buy Out. A. Employees may at their option, elect to sell back three (3) days at one hundred percent (100%) of their current rate of pay to be payable in the first pay period of each December. Employees may at their option, elect to sell back an additional three (3) days at 100% of their current rate of pay if they maintain at least 240 hours in their sick bank after the buyout of the initial three (3) days.
Sick Leave Buy Out. Unused sick leave accrued from any California public school district may be used to enhance service credit for PERS retirement benefits, according to Education Code and PERS rules and regulations. Instead of applying unused sick leave to PERS credit, a unit member may select 1 of the following options:
Sick Leave Buy Out. Every two (2) years beginning in 2019-2020 a teacher may trade in twenty (20) sick days for the use of (2) PTO days. A minimum of eighty (80) sick days are required in order to participate. If a teacher opted to use this option in 2019-2020, they would not be eligible again until 2021-2022.
