4.4 SR 08-07-2023 - Laserfiche WebLink

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�n em�lo� ee retiring with PERA benefits after com�letin� fifteen �15L�rears of consecuti`re service �vith the Citv of Elk River will receive �a�rout as out]ined below. Pa�out above 50% will be made in accordance with the Release of Claims Agreement or following confirmation of PERA Retirement, �vhichever is later. 15-19 consecutive �rears of service 60% of u� to 960 hours 20-24 consecutive ��ears of service 65% of u� to 960 hours 25-29 consecutive �rears of service 70% of u� to 960 hours 30-32 consecuti�re �-ears of senrice 75% of u� to 960 hours 33 or more consecuti�Te �-ears of ser�Tice 80% of u� to 960 hours Accumulated sick leave in excess of nine hundred sixt�� (960) hours is not eligible for a severance payment Sick leave shall continue to accumulate in excess of nine hundred sixty (960) hours to be used in accordance with the Family Medical Leave Act. , - Vacation Leave Paid vacation leave is provided for regular, full-time employees and on a prorated basis for eligible part- time employees. To be eligible, part-time employees must work a set schedule with a minimum of forty (40) hours per biweekly pay period. Most temporary, seasonal, and part-time employees are not eligible for vacation benefits. Vacation leave is accrued based on consecutive years of leave-eligible sernice. To determine an employee's vacation accrual rate, years of service will include all continuous time the employee has worked at the cin- in a position that is eligible for paid leave (including authorized unpaid leave). Employees who are rehired after terminating city employment will not receive credit for their prior service unless specifically negotiated at the time of hire. Leave-eligible employees hired before December 31, 2020, may carry more than 240 hours of vacation leave during a year but may not carry more than 240 hours forward to the next calendar year. Employees hired after January 1, 2021, shall accrue 120 working hours per year at the start of eligible employment through the completion of their ninth (9��) year. Effectit-e �u�ust �, 2023 t�hese employees may not carry more than �120 hours forward to the next calendar year but may carry more than �120 hours during a year. Employees with fewer than eight (8) years of service as of January 1, 2021, who elected to reduce d�eir annual carr�-otTer rate in return for the reduced annual accrual mae carn- more than their annual accrual amount of vacation leave durin,g a eear but, effecti�re �u�ust 8, 2023, ma� not carry more than their annual accrual amount fonvard to the next calendar �� , , „i„��:,,r �i,.,.,.�:,,r t.,.t,.��,,.. „ � Qn ... � t�„ . „a t,_. r�„�,,...t�„� 2� �n�� . , vz.T For the �ur�ose of this �olic� annual accrual amount is defined as the Accrual Rate hours listed below that reflect the Leneth of Ser�rice of the em�lovee at the end of the calendar �rear.