Policy for Funding of Sick Time at Retirement - Academic Health Center Finance and Administration, University of Cincinnati
Policy for Funding of
Sick Time at Retirement
An employee officially designated as retiring from the
University is entitled to receive a lump sum payment of A CERTAIN PORTION OF
UNUSED SICK TIME as per the particular retirement plan in which he/she has
participated. The appointing department submits the individual's Personnel
Action Form (PAF) indicating the appointment end date.
The Human Resources Service Center (HRSC) will
calculate the dollar value of the UNUSED SICK time due the employee. This
payment is normally included in the employee's final paycheck. HRSC sends the
primary department a printout indicating the dollar amount paid to the
individual.
All sick at retirement payouts are expensed to a central
fringe benefit account.