If the professional employee has less than eight (8) years of experience with the ESCFC, the State, any political subdivision, or any combination thereof, and qualifies for retirement with the appropriate retirement system, the employee may elect, at the time of retirement from active service with the Board and upon presentation of evidence of service retirement from the appropriate system, to receive severance payment for their accrued but unused sick leave, in the amount of one-fourth (1/4) of 120 days to a maximum of thirty (30) days.

Additionally, unless otherwise set forth in terms of an individual contract, professional staff employed by the Governing Board with eight (8) or more years of service with the Board, may elect, at the time of retirement from active service with the Board and upon presentation of evidence of service retirement from the appropriate retirement system, to receive severance pay for their accrued but unused sick leave in the amount of one-fourth (1/4) of the total days within their individual, annual employment contract to a maximum of fifty (50) days.

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

A professional employee, in order to receive severance pay in the amount determined above, shall have provided written notification to the Board of his/her intention to retire at least three (3) months prior to his/her last day of service and the Board shall have formally accepted such notification of intent to retire.

Payment shall be made no later than sixty (60) days after the Board acts to accept the notification of intent to retire and the employee’s retirement is verified to the Office of the Superintendent by the retirement system.

Severance payment shall be made only once.

For employees who qualify for retirement and are age 55 or older payment will be made to a qualified employer-approved tax-sheltered 401, 457 or 403(b), health retirement, or other qualified plan upon direction of the employee and to the extent permitted by law. For employees who qualify for retirement and are not yet 55 years of age prior to the effective date of retirement, severance will be paid through payroll to the employee.

For the purposes of this policy, "retirement" means service retirement under any Ohio Retirement System (State Teachers Retirement System, School Employees Retirement System, and Public Employees Retirement System) and does not include disability retirement.

The Educational Service Center of Central Ohio shall provide for a cash payment to its professional staff employed a minimum of five (5) years for unused sick leave when an employee receives a disability or service retirement under any state retirement system.

As used herein, "retirement" means disability or service retirement under a state retirement system and "year of service" means service with the state, any political subdivision, or combination thereof. A "year of service" shall mean not less than one hundred twenty (120) days of service within a benefit year.

A professional employee will be paid for one-fourth (1/4) of the value of his/her accumulated but unused sick leave. Such payment shall be based on the employee’s rate of pay at the time of retirement. An employee may receive, at the discretion of the ESCCO Governing Board and the aggregate value of the accrued but unused sick leave that is paid shall not exceed the value of thirty (30) days. The payment to an employee under this provision eliminates all sick leave credit accrued but unused at the time of retirement.

Retirees must provide appropriate proof of retirement (copy of initial retirement check or bank confirmation) to qualify for severance pay.

For employees who qualify for retirement and are age fifty-five (55) or older payment will be made to a qualified employer-approved tax-sheltered 401, 457 or 403(b), or other qualified plan to the extent permitted by law. For employees who qualify for retirement and are not yet fifty-five (55) years of age prior to the effective date of retirement, severance will be paid through payroll to the employee.

For the purposes of this policy, "retirement" means service retirement under any Ohio Retirement System (State Teachers Retirement System, School Employees Retirement System, and Public Employees Retirement System) and does not include disability retirement.

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

An employee, in order to receive severance pay in the amount determined above, shall have been employed by the Education Service Center of Central Ohio for five (5) consecutive years, shall have provided written notification to the Board of his/her intention to retire at least three (3) months prior to his/her last day of service and the Board shall have formally accepted such notification of intent to retire.

Payment shall be made no later than sixty (60) days after the Board acts to accept the notification of intent to retire and the employee's retirement is verified to the Office of the Superintendent by the retirement system.

Severance payment shall be made only once.

For employees who qualify for retirement and are age fifty-five (55) or older payment will be made to a qualified employer-approved tax-sheltered 401, 457 or 403(b), or other qualified plan to the extent permitted by law. For employees who qualify for retirement and are not yet fifty-five (55) years of age prior to the effective date of retirement, severance will be paid through payroll to the employee.

For the purposes of this policy, "retirement" means service retirement under any Ohio Retirement System (State Teachers Retirement System, School Employees Retirement System, and Public Employees Retirement System) and does not include disability retirement.

R.C. 124.39(B)

Revised 9/9/09
Revised 1/15/13