Terminal Leave Pay. A. In recognition of service to the school district, when a teacher retires from the school system after reaching minimum retirement age as defined by the Michigan Public School Employees' Retirement Board, a terminal leave payment will be allowed in the amount of 25% of accumulated sick leave at the time of retirement, to a maximum of $2,700.00.
Terminal Leave Pay. A terminal leave payment of one hundred dollars ($100.00) per year of service will be made to employees who retire (under MPSERS) or die with ten (10) years or more of service.
Terminal Leave Pay. A. Any employee having been employed by the Board for ten (10) or more years shall be eligible for terminal leave pay upon retirement provided he/she submits written certification of retirement to the Su- perintendent of Schools on the appropriate form no less than one hun- dred-twenty (120) days prior to the desired date of retirement.
Terminal Leave Pay. Each full-time administrator shall be eligible for terminal leave pay on the following basis, payable at the point of termination from the District:
Terminal Leave Pay. In recognition of service to the District, each employee upon termination shall be paid a terminal leave payment of Forty-five Dollars ($45.00) per year for each year of service to the District, provided the employee has been employed by the District for at least ten (10) consecutive years. For each year in which the employee uses fifty percent (50%) or less of earned sick leave, an additional Forty-five Dollars ($45.00) per year shall be paid to the employee.
Terminal Leave Pay. Severance pay for all administrators hired on or after July 1, 1999 shall be compensated at the rate of $100.00 per day for one hundred percent (100%) of accumulated unused sick leave payable upon retirement. For these administrators these expenses shall be capped at $12,000.
Terminal Leave Pay. 1. In appreciation for services to the school district, teachers will receive terminal leave pay. In the event of death, terminal leave pay will be paid to the teacher's estate in accordance with Article XXXIV, Section L.
Terminal Leave Pay. In recognition of service to the Board, in any capacity a terminal leave payment of one hundred fifty-five dollars ($155.00) per year will be paid to the retiring member upon his/her retirement provided the member will have been employed by the Board for at least ten (10) complete years.
Terminal Leave Pay. Upon termination of employment with the District, Administrator shall receive a lump sum payment equal to 1.35% of Administrator’s final salary multiplied by the number of years of service (or portion thereof) he or she worked for the District on or before June 30, 2003. Service to the District after June 30, 2003 is expressly excluded from the calculation of an Administrator’s terminal leave pay benefit.
Terminal Leave Pay. In recognition of services to the School District, a terminal leave payment of Two Hundred Fifty ($250.00) Dollars per year will be paid to the retiring administrator who notifies the District by August 31st for the first semester, or by the end of the first semester of his/her intent to retire at the end of the school year. This payment shall be added to the administrator's salary and paid out evenly over the remaining pay periods of the school year. If the administrator retires within the school year, he/she shall receive the payment in a lump sum.
