§ 20.440. Contributions.

(a) Accrued sick leave upon retirement. Employees who retire from employment with no less than four hundred eighty (480) hours or no less than sixty (60) days of accrued sick leave will have fifty (50) percent of the accrued sick leave hours converted into cash at a daily rate of pay for the position held by the employee on the day of retirement or termination, notwithstanding subsequent retroactive pay increases and deposited into their health care savings account. The conversion and deposit shall occur within thirty (30) days of the date of the retirement.

(b)

Accrued vacation leave.

(1)

Appointed and non-represented employees who retire, or terminate employment with accrued vacation leave will have fifty (50) percent of the accrued vacation hours or days converted into cash at an hourly or daily rate of pay for the position held by the employee on the day of retirement or termination, notwithstanding subsequent retroactive pay increases and deposited into their health care savings account. The conversion and deposit shall occur within thirty (30) days of the date of the retirement. The remaining fifty (50) percent of the accrued vacation hours shall be converted into cash at a daily rate of pay for the position held by the employee on the day of retirement or termination, notwithstanding subsequent retroactive pay increases and shall be paid to the employee within thirty (30) days of retirement.

(2)

This subsection shall become effective on January 1, 2012.

(c)

[ Repealed. ] (Code 1960, As Amend., § 554.030; Ord. of 6-29-73, § 1; Ord. of 11-27-74, § 1; Ord. of 12-20-74; Pet. No. 249854, § 56, 7-14-89; 2001-Or-061, § 3, 5-18-01; 2003-Or-046, §§ 4, 5, 4-4-03; 2004-Or-140, §§ 1, 2, 12-23-04; 2011-Or-113, §§ 1, 2, 12-9-11)