By Reg Jones
March 15th, 2013 | Uncategorized
Q. It is my understanding that unused sick leave after Jan. 1, 2014, is credited at 100 percent to the employee at retirement. Is it just added to the total annuity, or is it a lump-sum payout like unused annual leave?
A. Unused sick leave has no cash value. Instead those hours are added to any actual service hours that weren’t used in the initial computation of an annuity. For every combination of hours that adds up to 174, an additional month will be added to the actual service time and increase the amount of the final annuity.
Comments are closed.