Payment on Separation. An employee separated from the service shall earn sick leave only through the last working day for which he/she is entitled to pay. Upon death, retirement, permanent disability, or termination of an employee for reasons other than discharge for just cause, after ten (10) years of full-time employment or its equivalent if the employee has not served as a full-time employee, an employee shall be compensated for total accrued sick leave at the rate of one (1) hour's pay at his/her regular hourly rate for every three (3) hours of sick leave accrued to a maximum payment of one thousand one hundred and twenty (1,120) hours. An employee who is eligible for purchase of service credits under the Nevada Public Employee’s Retirement System (PERS), and who elects to convert unused sick leave (1/3 x sick leave, up to the cap maximum) and/or vacation into retirement service credit shall submit a written request, on a District approved form, sixty (60) days in advance of their anticipated retirement date. The District shall calculate the amounts owed the employee, minus applicable taxes and deductions, to determine the net amount the employee will have to purchase retirement credit. The employee shall be advised of the amount that may be used to purchase retirement credit and shall complete the application process with PERS. The District shall then proceed to pay the employee the amount designated as of their termination of employment (provided their leave banks have not been reduced since the estimate was determined).
Appears in 3 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement