Code No.: 401.3
SEVERANCE PAY
Purpose: To ensure provision for severance pay approved by the Board.
Policy: The District, in an effort to thank employees with tenure in the District, will have in place a severance pay package for employees with at least fifteen (15) years of continuous service to the District and who are at least fifty-five (55) years of age.
Classified Staff: An employee, who is considered at least half time for his/her employment group, is eligible for severance pay at retirement unless an early retirement package has been offered to this employee group in the same year. The employee must have worked at least
fifteen (15) continuous years for the District and be at least age fifty-five (55) at the time of retirement to receive this pay. It shall be based on the days of sick leave accumulated by the employee at the time of retirement. The severance pay shall be granted at the rate of fifteen percent (15%) of the per diem substitute pay for the employee group, at the time of retirement.
Certified and Administrative Staff: An employee with a minimum of fifteen (15) years of continuous service in the District who retires at age fifty-five (55) or older shall be eligible for severance pay unless an early retirement package has been offered to employees in their employee group in the same year. Severance pay shall be based on the number of days of illness and disability leave accumulated by the employee at the time of retirement. Severance pay shall be granted at the rate of fifteen percent (15%) of the per diem substitute teacher’s pay in effect at the time of retirement, up to a maximum of $750.00.
Approved 3/20/06
Reviewed 3/7/11
Revised 7/21/14
Reviewed 4/3/17
