3358:5-5-15. Severance pay for unused sick leave

(A) Any employee with the equivalent of five or more years of full-time service at Clark state community college who indicates the intention to retire by either service and/or disability qualification and for whom the board has received an application for processing from a retirement system for benefits to such employee shall be eligible to be paid severance pay for accrued but unused sick leave pursuant to the following formula:

One-fourth of accrued, unused sick leave not exceeding one hundred twenty days (i.e.. maximum payment is for thirty days"

Such payment shall be based on the employee's rate of pay at the time of retirement and shall be disbursed following the employee's last regular payment of salary.

(B) Payment for unused sick leave on this basis shall be considered to eliminate all sick leave credit accrued by the employee at the time of retirement and such payment shall be made only once to any employee.

Replaces: 3358: 5-5-15

Effective: 7/1/1998
Promulgated Under: 111.15
Statutory Authority: 3358
Rule Amplifies: 3358
Prior Effective Dates: 1/28/78, 1/9/84, 3/10/94