| Girard City School District |
| Bylaws & Policies |
1415 - SEVERANCE PAY
Unless otherwise set forth in the terms of an individual contract or applicable collective bargaining agreement, administrators employed by the Board of Education with ten (10) or more years of service with the Board, the State, any political subdivision, or any combination thereof (
if less than ten (10)) may elect, at the time of retirement from active service with the Board and upon presentation of evidence of service retirement from the appropriate retirement system, to receive severance pay for their accrued but unused sick leave in the amount of one-fourth (1/4) of 212 days to a maximum of fifty-three (53) days.Severance pay shall be based upon the administrator's rate of pay at the time of retirement and eliminates the employee's entire sick leave accrual upon payment.
An administrator, in order to receive severance pay in the amount determined above, shall have provided written notification to the Board of his/her intention to retire at least four (4) months prior to his/her last day of service.
Severance payment shall be made only once to an administrator.
Payment may be made on the employee's behalf to a qualified tax-sheltered 403(b), health retirement, or other qualified plan upon direction of the employee and to the extent permitted by law.
For purposes of this policy "retirement" means service retirement under State Teachers Retirement System or the School Employees Retirement System and does not include disability retirement.
R.C. 124.39(B)
Adopted 5/16/07