For employees who are in a position which accrues paid time pursuant to HR-402, HR-404, and HR-421 your unused accruals as of your retirement date are handled as follows:
- Sick accruals: When you retire, you will receive day-for-day service credit for any unused banked sick leave in your final retirement benefit calculation.
- Vacation accruals: Unused vacation accruals will be paid to employees as a lump sum payment on the next available pay period, after the employee’s last day worked. Service and salary for unused vacation time is creditable when calculating the retirement benefit.
- PTO accruals: Up to a maximum of 80 hours of unused PTO accruals will be paid to employees as a lump sum payment on the next available pay period, after the employee’s last day worked. Service and salary for the unused PTO time that is paid out in a lump sum (up to the maximum of 80 hours) is creditable when calculating the retirement benefit.
Reviewed 2025-01-16
