22.11 Sick Leave Payout at Time of Retirement
(10/04)
Faculty and staff who retire at age 55 and older and have unused sick leave hours are eligible to receive a cash payment not to exceed $2,000 based upon their current rate of base pay and the amount of unused accumulated hours (Iowa Code 70A.23). Any amount beyond this figure is forfeited. This payout is incorporated into the Fringe Benefit Pool charge.