Sick Leave Annual Cash Out. Each January an employee is eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if:
Sick Leave Annual Cash Out. Each January an employee is eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if: The employee’s sick leave balance at the end of the previous calendar year exceeds four hundred eighty (480) hours; The converted sick leave hours do not reduce their previous calendar year sick leave balance below four hundred eighty (480) hours; and The employee notifies the payroll office by January 31st that they would like to convert sick leave hours earned during the previous calendar year, minus any sick leave hours used during the previous year, to cash. All converted hours will be deducted from the employee’s sick leave balance.
Sick Leave Annual Cash Out. At the written request of the employee, due by February 10th, the employer will cash out at the employee’s base rate of pay at 50% of all annual sick leave accrued (but not used) over 620 hours. This amount shall be placed into the employee’s deferred compensation account, administered by the employer. Transfer of these funds shall occur at the same time as the second pay check in February is issued.
