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10 <br /> sick leave balance up to a maximum paid of four hundred eighty (480) hours. <br /> <br />17.3 Employees hired August 8, 2023, or later, and completing five (5) years of consecutive <br /> service, will receive a payout as outlined below: <br />5-9 consecutive years of service 40% of up to 960 hours <br />10 or more consecutive years of service 50% of up to 960 hours <br /> <br />17.4 An employee eligible for Severance Pay as noted above and eligible for PERA benefits will <br />receive payout as outlined below. <br />15-19 consecutive years of service 60% of up to 960 hours <br />20-24 consecutive years of service 65% of up to 960 hours <br />25-29 consecutive years of service 70% of up to 960 hours <br />30-32 consecutive years of service 75% of up to 960 hours <br />33 or more consecutive years of service 80% of up to 960 hours <br /> <br />17.5 Accumulated leave in excess of nine hundred sixty (960) hours is not eligible for a <br />severance payment. Sick leave shall continue to accumulate in excess of nine hundred <br />sixty (960) hours to be used in accordance with the Family Medical Leave Act. <br /> <br />17.6 Due to unforeseen circumstances and in his/her sole discretion, the city administrator <br />may grant exceptions to provide partial payout prior to five (5) years of service. <br />ARTICLE 18. VACATION <br /> Vacation leave is accrued based on consecutive years of leave-eligible service. To determine <br />Employee's vacation accrual rate, years of service will include all continuous time the employee <br />has worked for the City in a position that is eligible for paid leave (including authorized unpaid <br />leave). Employees who are rehired after terminating city employment will not receive credit for <br />their prior service unless specifically negotiated at the time of hire. <br />18.1 Leave-eligible Employees hired before December 31, 2020, may carry more than 240 <br /> hours of vacation leave during a year but may not carry more than 240 hours forward <br /> to the next calendar year. <br />18.2 Employees hired after January 1, 2021, shall accrue 120 working hours per year at the <br /> start of eligible employment through the completion of their ninth (9th) year. They may <br /> carry more than 120 hours of vacation leave during a year but may not carry more than <br /> 120 hours forward to the next calendar year. <br />18.3 Employees with fewer than eight (8) years of service as of January 1, 2021, who elected <br /> to reduce their annual carryover rate in return for the reduced annual accrual may <br /> carry more than their annual accrual amount of vacation leave during a year but may <br /> not carry more than their annual accrual amount forward to the next calendar year. For <br /> this policy, annual accrual amount is defined as the Accrual Rate hours listed below that <br /> reflect the Length of Service of the employee at the end of the calendar year. <br />Page 72 of 111