SEVERANCE PAY
In accordance with statute, eligible employees who present evidence of
retirement from active service with the Governing Board shall be granted
severance pay for a portion of their accrued but unused sick leave days.
The Governing Board authorizes the payment to a retiring employee of 1/4
of his/her unused sick leave days.
For purposes of this policy, "retirement" means retirement under State
Teachers Retirement System and does not include disability retirement.
In order to qualify for severance pay, an employee shall:
1. have made application within 90 days following the effective date of
retirement.;
2. have served 10 or more years under S.T.R.S. with the State or a
political subdivision or a combination thereof.
If approved, the Governing Board shall pay severance in the following
manner:
1. Payment shall be made no later than 60 days after the application is
filed and the employee's retirement is verified to the office of the
Superintendent.
2. Such payment shall be made only once to an employee.
3. Payment shall be based upon the employee's daily rate of pay, which is
based on contract days.
Payment of severance pay shall eliminate all obligations of the employer
at the time of retirement from any further payment or restoration of sick
leave unused.
[Adoption date: June 21, 2001]
LEGAL REFS: ORC 124.39
3319.14
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