Everett Firefighters Local No 46 12/30/2021

Section 5: Retirement Sick Leave Incentive: The City shall convert upon employee's retirement to the HRA/VEBA Account or MERP account funding in an amount equal to sixty percent(60%)of the value of their then existing sick leave accrual balance not to exceed the 1176 cap. The amount will be calculated using the employee's regular hourly rate of pay in the year of their retirement. To be eligible for this retirement funding, the employee must declare their intention to retire in writing at least 12 months prior to the anticipated retirement date. After such declaration, failure to retire at the announced date will result in the loss of 60% of the hours in the employee's sick leave bank. However, if extenuating circumstances exist, at the discretion of the Fire Chief,exceptions for earlier or later use of the incentive may be granted. Extenuating circumstances could include bereavement; serious illness or accident; or significant adverse family or personal circumstances. Special Retirement Date Provision: Employees who wish to declare a retirement date of January 1st, 2022 through August 31st, 2023 may participate in the sick leave 60%pay out incentive program by informing the department in writing of their intent to retire within 30 days of the signing of the CBA. All other employees will be required to give 12 months written notice of retirement. Monies will be deferred to either the member's MERP or HRA/VEBA account. 23