Laserfiche WebLink
limit of fifty-three and one-third (53.33) eight (8) hour working days, at <br />the rate of pay effective on the date of such termination. <br />For employees who have at least ten (10) years of service with the City <br />prior to October 1, 2010, the maximum sick leave cash-out after ten (10) <br />years of service shall be equal to 427 hours (53.33 x 8). <br />Thereafter, for employees with less than ten (10) years of service as of <br />September 30, 2010, the maximum sick leave cash-out after ten (10) years <br />of service shall be equal to 325 hours (40.625 x 8). <br />At the employee's election, payment of unused sick leave may be received <br />in either a lump sum of money, or in equal monthly payments for a period <br />of up to five (5) years. <br />A lump sum payment shall be made to the beneficiaries of any eligible <br />employee whose death occurs while such employee is an active employee <br />of the City, such payment to be in the amount of one-third (1/3) of the <br />total sick leave benefit credited to the employee's account at the time of <br />his or her death, and at the rate of pay effective on the date of death. <br />2. At his or her option, an employee may convert any lump sum payment <br />provided herein into health insurance premiums, to the extent necessary to <br />provide the employee and his or her designated eligible dependents, if any, <br />with benefits under the health insurance program maintained by the City. <br />The City's obligation to pay such premium shall terminate upon the <br />happening of any of the following events: <br />a. Premiums have been paid on behalf of the former employee until <br />all monies are exhausted; or <br />b. The sum of premiums paid equals one hundred fifty percent <br />(150%) of the amount of the lump sum payment that the employee <br />would have received for unused sick leave benefits had this option <br />not been elected. <br />C. Except in cases of disability retirement, upon non-disciplinary <br />termination of employment after fifteen (15) years of cumulative <br />full-time service with the City, each qualified employee shall be <br />entitled to payment for two-thirds (2/3) of the total sick leave <br />benefit credited to his or her account upon the effective date of <br />such termination to be applied toward health insurance premiums <br />only as specified in Section K (2) above excluding Subsections a <br />and b. <br />46