(a) Employees will receive payment of 100 percent (100%) limited to 1200 hours (150 days) maximum of their accrued sick leave upon retirement at the employee’s current rate of pay at the time of retirement. Such amount shall be included in the employee’s gross earnings for the year. All accrued sick hours in excess of 1200 shall be forfeited.
(b) The estate of a deceased employee who dies while employed by the City is entitled to receive 100 percent (100%), limited to 1200 hours maximum, of the deceased employee’s unused sick leave accrued while in the employ of the City at the employee’s current rate of pay at the time of death. Such amount shall be taxable for purposes of City Income Tax. All sick hours accrued in excess of 1200 shall be forfeited.
(c) Employees who retire on or before December 31 of the year of the completion of their 30th year of credited service, as determined by the Public Employees Retirement System of Ohio (PERS) shall receive payment for 100% of their accrued unused sick leave up to 1400 hours (175 days) in lieu of the 100% of the 1200 hours maximum set forth in subsection (a).
(d) Employees who become eligible for the enhanced retirement benefit provided for in subsection (c) and do not retire according to the terms of said section shall thereafter be eligible solely for the retirement benefit set forth in subsection (a) upon retirement.
(Ord. 64-2007. Passed 3-26-07.)