For Full-time, Hourly Employees
The employee must be considered an official retiree from »¨¼¾´«Ã½ by meeting the criteria specified in the University Retirement Policy. The sick time bonus at retirement of the employee will be based on the employee’s accumulated sick time balance as of the date of retirement.
| If Your Sick Time Balance is: 800 or more hours 700 - 799 hours 500 - 699 hours 300 - 499 hours 200 - 299 hours Less than 200 hours |
Your Bonus is: $5,000 $4,000 $3,000 $2,000 $1,000 Zero |
In the event of the death of an employee, the Bonus amount will be issued to the same beneficiary or beneficiaries as designated on the employee’s life insurance benefit record. The Bonus amount will be determined by the employee’s accumulated sick time balance as of the date of death and will follow the payout schedule specified above in item #2. The employee does not have to meet the University’s definition of retirement in order for the beneficiary or beneficiaries to receive this benefit.