Unused Sick Leave Payout at Retirement Policy

Policy Statement:

A full-time employee who retires from employment with the College may be paid a portion of his or her accrued sick leave in accordance with this policy.

Scope:

This policy applies to all full-time employees of the College who qualify for sick leave payout under this Policy.

Provisions:

A full-time employee who resigns from employment with the College and who prior to the effective date of the resignation provides official notification to the College that the resignation is in connection with retirement, may receive a pay out of a portion of unused sick leave as set forth below.

For purposes of this Policy retirement means:

For an employee who is a member of Ohio Public Employees Retirement System (OPERS), Ohio Public Employees Retirement System Law Enforcement (OPERS-LE) or State Teachers Retirement System (STRS):

The employee has actually applied for and been informed in writing by OPERS, OPERS-LE or STRS that he or she is eligible to receive a service retirement benefit.

For an employee who is a participant in an Alternative Retirement Plan (ARP):

The employee, as of the effective date of the resignation, is at least sixty (60) years old and has at least ten (10) years of continuous service with the College.

Sick leave payout under this Policy:

Is paid at the rate of one (1) day of pay for each four (4) days of accrued but unused sick leave, up to a maximum payout of thirty (30) days.

Is based on the employees rate of pay as of the effective date of the resignation.

Will be made only once to any employee.

Eliminates all sick leave credit accrued by an employee at that time.

An employee who resigns from a grant funded position is not eligible for any sick leave payout unless the College has otherwise agreed in writing.