Upon service retirement or early retirement,
as defined by the Public Employees' Retirement System (PERS) on or after January 1, 1983, any permanent Township employee
who is not covered by a collective bargaining agreement and who is
immediately eligible for retirement benefits will receive, in one
lump sum or in installments as agreed to by the Township, one day's
base salary, computed on the basis of the employee's salary at the
time of retirement, for each two days of unused accumulated sick leave.