Common use of Accumulated Unused Sick Days Clause in Contracts

Accumulated Unused Sick Days. At the time of retirement, the school corporation shall contribute to a teacher’s individual Post Retirement VEBA (Voluntary Employees Beneficiary Association) account as described in section 501(c)(9) of the Code, or pay directly that amount equal to forty-five ($45.00) dollars per day for each day of unused accumulated sick leave.

Accumulated Unused Sick Days. At the time of retirement, the school corporation shall contribute to a teacher’s individual Post Retirement VEBA (Voluntary Employees Employee's Beneficiary Association) account as described in section 501(c)(9) of the Code, or pay directly that amount equal to forty-five ($45.00) dollars per day for each day of unused accumulated sick leave.