[Adopted 2-17-2009 by Ord. No. 1316-09]
For purposes of any retirement payout by the
Township to a retiring employee, including but not limited to payout
for sick time and vacation time, time shall accumulate in the year
of retirement on a monthly basis. For instance, if an employee retires
on January 31, 1/12 of the annual benefits shall have accumulated;
if an employee retires on June 30, 1/2 of the annual benefits shall
have accumulated. The payout shall be based upon the amount of time
accumulated and which has not been used.
If an employee has used more than the accumulated
time in the year of retirement, the number of days used in excess
of that which is accumulated shall be reimbursed to the Township.
For instance, if an employee is entitled to 12 vacation days in the
year of retirement, has used them all, and retires on June 30, he
or she shall reimburse the Township for six vacation days. The Treasurer
shall deduct any amount due to the Township from the payout or the
employee's last paycheck.
