Township of Middle, NJ
Cape May County
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Table of Contents
Table of Contents
[Adopted 7-6-1978 by Ord. No. 351-78]
Any employee or official of the Township of Middle who shall meet the requirements, both with respect to age and with respect to length of employment, of the New Jersey Public Employees' Retirement System for retirement and for the payment of a retirement pension shall be entitled to a lump-sum payment for accumulated sick leave.
[Amended 1-14-1987 by Ord. No. 558-86; 2-4-1987 by Ord. No. 563-87]
A. 
For employees hired prior to January 1, 1987, said lump-sum payment shall be calculated by using the number of days of sick leave which have been accumulated and which have not been used to a maximum of 260 and multiplying said number of days by the daily pay rate of the retiring individual immediately preceding retirement. Said daily pay rate shall be calculated by dividing the annual pay rate of the retiring person immediately prior to retirement by 261.
B. 
For employees hired on or after January 1, 1987, said lump-sum payment shall be calculated by using the number of days of sick leave which have been accumulated and which have not been used to a maximum limit of 180 days, except as provided below, and multiplying said number of days by the daily pay rate of the retiring individual immediately preceding retirement. Said daily pay rate shall be calculated by dividing the annual pay rate of the retiring person immediately prior to retirement by 261. No employee shall receive an amount in excess of $12,000 under the terms of this subsection.
The total gross lump-sum payment shall not exceed the total gross annual salary to which the retiring individual would have been entitled in the year of retirement, based upon salary immediately preceding retirement. From said gross lump-sum payment shall be deducted those taxes required by law to be deducted, and the determination of the necessity and amount of said deductions shall be in accordance with the opinion of the Township Auditor.
[Amended 7-18-2011 by Ord. No. 1389-11]
In order to permit proper budgetary provisions to be made, any employee entitled to payment of accumulated sick leave, vacation or personal days shall notify the Township Treasurer no later than December 31 of the year prior to retirement with written notification. In the absence of such timely notification, the employee shall be paid his or her termination payment on or before June 30 of the year after retirement, or, at the discretion of the Township Committee, the employee may be paid the termination payment but only if the payment is less than $5,000 and approved by resolution.