4.18 SR 12-16-2024 - Laserfiche WebLink

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18.3 18.4 hours paid into Employee's Post Employment Health Care Savings Plan and the remaining half will remain in Employee's sick leave bank. ie: If you begin the year at the 8-day accrual rate half of your year's accrual will be paid into your PEHCSP at the end of the year and the other half will remain in your bank. If the balance is below 960 when checked the following year, Employee returns to the twelve (12) days per year accrual rate. Employees are not eligible for HCSP payment when accruing at the twelve (12) days per year rate and all unused accrued hours remain in their bank. If the balance is at or above 960 when checked, they move to or remain in the eight (8) day per year accrual plan. For the purpose of implementing this plan in 2022, the leave balances will be checked on the first pay day following the signing of this contract and the terms above will apply going forward. Severance Pay An Employee resigning his/her employment with the City will be eligible for a cash payment for unused sick leave if the following conditions are met: The Employee must resign in good standing (not terminated by the City); and 2. The Employee must provide proper written notice of his/her resignation in accordance with the City Resignation Policy; and 3. The Employee must execute a release of claims. Payment shall be based on the consecutive years of service completed by the Employee and his/her accrued sick leave balance. An Employee terminating after completing five (5) years of consecutive service will receive payment as outlined below. Payment shall be at the current rate of pay when the resignation is submitted. 5-9 consecutive years of service 40% of up to 960 hours 10 or more consecutive years of service 50% of hours up to 960 hours For Employees with 15 or more years of service and retiring at age 50 or older from regular, fulltime POST qualified police work: 15-19 consecutive years of service 60% of up to 960 hours 20-24 consecutive years of service 65% of up to 960 hours 25-29 consecutive years of service 70% of up to 960 hours 30-32 consecutive years of service 75% of up to 960 hours 33 or more consecutive years of service 80% of up to 960 hours Fifty percent (50%) of the severance will be paid in accordance with the timeline outlined in the release of claims. The remaining severance will be paid approximately 90 days following termination provided the Employee does not return to active policing. Any accumulated sick leave in excess of nine hundred sixty (960) hours is not eligible for payment under this policy. Employees may continue to accumulate sick leave in excess of nine hundred sixty (960) hours to be used in accordance with the Family Medical Leave Act. In the event of an Employee death, payment of this benefit consistent with this Article may be 8 Page 157 of 273