Sick Leave Buyback. The Board agrees to buy sick leave days back from those teachers who have more than one hundred (100) accumulated sick leave days at the end of a school year. The value of each unused day will be determined based on the formula in Section A above. The total amount calculated will be deposited into the teacher’s Section 401(a) account. If a teacher has in excess of 6 personal days, the days will be transferred to the total sick day accumulation for this calculation. The number of days will be figured using the above chart in this section.
Sick Leave Buyback a. At the time of separation from school district employment due to retirement or death, an eligible employee or the employee's estate shall receive remuneration at a rate equal to one (1) day's current monetary compensation of the employee for each four
Sick Leave Buyback. A. Employees shall be entitled to payment for accumulated sick leave as follows:
Sick Leave Buyback a) If an employee is upgraded while on overtime, Article 27 will apply. Nothing herein shall require payment of overtime when an insubstantial amount of time is worked in excess of the normal shift. For the purpose of this Article, an insubstantial amount of time shall be considered any period of time less than one-quarter (1/4) hour. Employees shall be paid overtime to the next highest one-quarter (1/4) hour for any time worked over one-quarter (1/4) hour.
Sick Leave Buyback. 1. In recognition of service to the Town of Winchester, any unit member who will have completed twenty (20) years of service in Winchester by the time s/he retires shall be paid twenty-five dollars ($25) per day for any number of sick days beyond the first one hundred (100) days of their accumulated sick leave. In order to qualify for this payment, the teacher must notify the Superintendent by December 1st of each year, of his/her intent to retire at the conclusion of that school year.
Sick Leave Buyback. The Board will buy unused Sick Leave days above the 160-day accumulation at the rate of forty dollars ($40.00) per day at the end of the school year. The money shall be paid to the teacher by check by August 1 of each year.
Sick Leave Buyback. WAC 392.136 provides conditions for this section as follows: Annual Conversion of Accumulated Sick Leave Commencing in January, l984, and each January thereafter, any eligible employee may exercise an option to receive remuneration for unused leave for illness or injury accumulated in the previous year at a rate equal to one day's monetary compensation of the employee for each four full days of accrued leave for illness or injury in excess of sixty days. Leave for illness or injury for which compensation has been received shall be deducted from accrued leave for illness or injury at the rate of four days for every one day's monetary compensation. One day's monetary compensation shall mean the salary of an employee for each full day of employment, exclusive of supplemental pay, and exclusive of fringe benefits such as health, insurance premiums and other forms of insurance premiums. Employees shall give written notice to the Superintendent during the month of January if they desire to exercise the option to receive remuneration for unused leave accumulated in the previous year for illness or injury in excess of sixty days. At no time may a staff member's accumulated sick leave be reduced below sixty days to take advantage of this option.
Sick Leave Buyback. Employees, excluding those hired after July 1, 2012, may at the employee’s option, be compensated annually for a portion of unused sick leave. Xxxx leave compensation will be based upon the amount of accrued sick leave during the calendar year. Such compensation will be paid in February prior to the fifteenth (15th) day of the month according to the following schedule: Xxxx Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 192 hours No compensation 192 – 383 hours 12½% of salary of sick days earned and not used during prior year 384 – 479 hours 25% of salary of sick days earned and not used during prior year 480 hours and over 50% of salary of sick days earned and not used during prior year All employees hired after July 1, 2012 will not have the option but rather will be required to be compensated annually for a portion of unused sick leave. The employees shall be compensated according to the following schedule: Xxxx Leave accrued as of the final payroll period paid in December Unused Sick Leave Compensation Less than 480 hours No Compensation 480 hours to 959 hours 25% of sick hours earned and not used during prior year (remaining unused hours are carried over and retained.) 960 or more hours 50% of sick hours earned and not used during prior year (remaining unused hours are not carried over and therefore lost.) If an employee terminates employment with the Village prior to receiving unused sick leave compensation, such compensation will be paid on the last paycheck, pro-rated according to the schedule herein, provided the proper two (2) weeks written notice is given. Employees who do not exercise the option to receive annual compensation for accrued sick leave shall carry over and maintain said sick leave from year to year. Upon retirement, those employees hired before July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one half (½) of their accumulated sick leave as monetary compensation in an amount not to exceed 720 hours. Upon retirement, those employees hired after July 1, 2012 with at least twenty (20) years of service and with at least 240 hours of accumulated sick leave may elect to receive compensation of up to one-half (½) of their accumulated sick leave as monetary compensation in an amount not to exceed 480 hours. Employees hired after July 1, 2012 and retiring into IMRF shall receive the...
Sick Leave Buyback. If an employee uses four (4) sick days or less during a calendar year, the employer will pay fifty percent (50%) of the sick leave earned by and not used by the employee for that year. The remaining earned sick leave not paid off or used will be accumulated. The employee has the option, as to whether they want to be paid off sick leave as noted above or whether they want to accumulate same. The option must be exercised on or before December 1 of each year. EXAMPLE: An employee does not use any sick leave, which he/she earned in a calendar year. That employee will be paid off six (6) days of sick leave if he/she exercises his/her option.
Sick Leave Buyback. Effective April 4, 1997, the City amended its contract with PERS to provide sick leave credit of .004 year of service credit for each unused day of sick leave.
