For Planning Purposes: Severance / Accumulated Sick Leave Bank Payout Info

 

If you have any questions regarding information on this sheet please contact:

Mrs. Joannie Payne. Ext. 1007

 

ARTICLE XXVII

Severance

  1. At the termination of service and after ten (10) years in the system, the teacher shall receive one-half (1/2) of his accumulated sick leave days paid at the teacher’s current daily base rate of salary.  For the purpose of severance, the maximum number of days applicable for accumulation will be one hundred forty-four (144).

  1. Employees hired after January 1, 1987 will receive at the termination of service and after twenty (20) years in the system twenty-five percent (25%) of their base rate of pay if their accumulated sick leave is a minimum of one hundred forty-four (144) days.

Employees whose accumulation falls between:

130-143         days will receive 90% of 25% of their base rate

116-129          days will receive 80% of 25% of their base rate

102-115          days will receive 70% of 25% of their base rate

88-101           days will receive 60% of 25% of their base rate

74-87             days will receive 50% of 25% of their base rate

60-73             days will receive 40% of 25% of their base rate

46-59             days will receive 30% of 25% of their base rate

32-45             days will receive 20% of 25% of their base rate

18-31             days will receive 10% of 25% of their base rate

4-17               days will receive 0% of 25% of their base rate

For the purpose of severance, the maximum number of days applicable for accumulation will be one hundred forty-four (144).

  1. Upon the death of a teacher, regardless of years of service, the beneficiary or estate shall be paid one-half (1/2) the deceased’s accumulated sick days at the deceased’s current daily base rate.

  1. Employees who officially qualify for retirement under the Michigan Public Schools Employee Retirement System (MPSERS) criteria and who notify the Board by March 1st of the school year in which they retire, shall receive an incentive payment of one thousand, five hundred dollars ($1,500) upon retirement.  Retirement shall be defined as final notification from the MPSERS fund.
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