Post-Employment Insurance Benefit
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If an employee retires after the age of fifty-seven (57) and after fifteen (15) consecutive years of service to the District, unused accumulated sick leave shall be converted to a dollar amount equal to one hundred percent (100%) of the employee’s daily rate of pay at the time of retirement multiplied by the number of unused accumulated sick leave days (including accumulated days in the sick/retirement bank where applicable). Such monies shall be applied to the health insurance program monthly premium (including the HRA premium) until the total monies are exhausted.
Rev: 3-8-2021
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