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Madison Metropolitan School District

Employee Handbook 2021-2022

Addendum B: SECTION 15 MISCELLANEOUS

15.2 Sick Leave Payout

Employees who prior to November 1, 2003 had earned sick leave in excess of one hundred fifty (150) days and elected to receive a cash sum equivalent to the employee’s regular salary times the number of excess days will continue to receive such sick leave payout. This payment is to be made on the payday immediately preceding December 25. All employees who opted for this payment will have their excess sick leave paid and their sick leave balance reduced to one hundred-fifty (150) days as of the last payday immediately preceding December 25. The employees shall have the option to have such funds placed in a tax-sheltered annuity (TSA), subject to the limitations set forth in Section 5.04 of this Handbook. The election to receive the sick leave payout referenced above shall be applicable as long as said employee remains employed by the District (i.e. the decision is irreversible and the employee so electing cannot elect to accrue sick leave beyond one hundred fifty (150) days in the future).