1415 - SEVERANCE PAY

This policy shall apply to all individuals employed under an administrative contract for positions listed in Policy 1520 - Employment of Administrators.

Severance will be paid according to the appropriate current negotiated agreement. Retire/rehire administrators will not be entitled to severance.

Severance pay shall be based upon the administrator's rate of pay at the time of retirement and eliminates the employee's entire sick leave accrual upon payment.

For purposes of this policy, "retirement" means service retirement under State Teachers Retirement System or the School Employees Retirement System and does not include disability retirement. Employees who resign to avoid an involuntary dismissal are not eligible for the payment set forth herein.

© Neola 2007