| Wapakoneta City Schools |
| Bylaws & Policies |
4415 - SEVERANCE PAY
In accordance with O.R.C. 124.39(B), all employees who present evidence of retirement from active service with the Board of Education shall be granted severance pay for their accrued but unused sick leave days. This policy specifies the manner for so doing.
The Board authorizes payment as follows:
Bargaining unit members who present evidence of retirement from active service with the Board shall be granted severance pay for their accrued but unused sick leave days. Bargaining unit members will receive twenty-five percent (25%) of their accrued but unused sick leave, up to a maximum total of fifty-seven and one-half (57 ½) days’ pay.
In order to qualify for severance pay, an employee shall have:
| A. | "Retirement" means service retirement under the School Employees Retirement System (SERS) and does not include disability retirement. In order to qualify for severance pay, the bargaining unit member shall have served ten (10) or more years of active service with the Wapakoneta City School District and been approved for service retirement no later than thirty (30) calendar days after the final day of employment with the Board. | |
| If a bargaining unit member who has at least ten (10) years of service to Wapakoneta City Schools dies while actively employed by the Board, severance pay will be paid to the employee’s estate in accordance with the above formula. | ||
| B. | Calculation of severance pay shall be on the basis of fifteen (15) days of yearly accrued sick leave per year of service to the Board (minus sick leave days that have been used). | |
| C. | If approved, severance pay will be made by the Board in the following manner: |
| 1. | The rate of pay shall be the per diem rate of the annual salary as determined by the salary schedule, including supplemental contracts in effect at retirement. The per diem rate shall be computed by dividing the annual salary by the number of days of regular required duty. | ||
| EXCEPTION: The divisor for the Superintendent, Assistant Superintendent and Treasurer shall be 223. | |||
| 2. | Severance pay shall be forwarded to the retired employee on or before February 1, in one (1) installment, in the next tax year following retirement. Such payment shall be made only once to any employee and shall extinguish all accumulated sick leave to the credit of said employee. |
R.C. 124.39, 3319.141
Revised 10/20/86
Revised 4/26/01