All Sevier County School System employees eligible for sick leave and:

• Have been continuously employed by the Sevier County Board of Education for the last five (5) years of service, prior to retirement;
• Meet the eligibility requirements for, make application and retire pursuant to the provisions of the Tennessee Consolidated Retirement System (TCRS);
• In order to qualify for this non-used sick leave incentive, an employee must notify Sevier County Schools Human Resources by a written letter stating their intentions to retire. The effective date of retirement shall be no later than June 30. The letter must be received and date stamped by Human Resources no later than 4:00 p.m. on or before February 28 of the same calendar year.
• In order to qualify for this incentive, an employee must actively work through the end of their current contract year. “Actively work” means being actively at work; on vacation, on sick leave, on military leave, or approved unpaid leave of absence. If one retires before the end of their current contract year, the employee is not eligible for the retirement incentive.
• Any retired or retiring employee who fails or failed to make timely application for the benefits provided herein shall be deemed to have waived all benefits and shall thereafter be barred from application.

• On June 30, or the closest business day before, of each year the Sevier County School System will pay each eligible retiree under this plan one hundred dollars ($100.00) per day for each day of unused sick leave.
• The unused sick leave days will be calculated from the accrued sick leave by June 15, excluding days not accrued while in the employ of Sevier County Schools.
• For purposes of this incentive procedure the unused sick leave must have been earned while in the employ of Sevier County Schools. No leave transferred from another school system, governmental entity or governmental department will be considered in calculation of this incentive. No accrued vacation or other accrued leave time will be considered with the exception of converted personal leave not to exceed two days per calendar year.
• This benefit will not exceed 250 days of unused sick leave or exceed $25,000. This benefit will not be reported as wages to the Tennessee Consolidated Retirement System. All accrued sick leave days will be reported to TCRS.
• In order to qualify for this non-used sick leave incentive, an employee must notify Sevier County Schools Human Resources by a written letter stating their intentions to retire. The effective date of retirement of retirement shall be no later than June 30. The letter must be received and date stamped by Human Resources no later than 4:00 on or before February 28.
• In order to qualify for this incentive, an employee must work through the end of their current contract year. If one retires before the end of their current contract year, the employee is not eligible for the retirement incentive.
• Any employee who fails to make timely application for this benefit provided by this procedure shall be deemed to have waived all benefits and shall thereafter be barred from application.
• The benefits provided by this incentive may not be assigned, transferred or hypothecated in any manner. Incentive benefits shall automatically cease on the date of the employee’s resignation, termination or death prior to the completion of their current contract year. The benefits shall not pass to the estate or beneficiary of the employee.

• Employee is not or ceases to be an eligible employee.
• Employee resigns or otherwise ceases employment prior to February 28 of his/her retirement year or terminates employment prior to end of contractual year.
• Employee is or was terminated for cause.

• The Sevier County Board of Education may amend, terminate or modify the benefits and incentives described herein, provided that no modification, termination or amendment shall alter, modify or terminate any benefit being received by an already approved participant.
• The maximum amount of incentive pay to any individual will be $25,000 regardless of number of unused sick leave days.
• The Board may waive eligibility requirements, in its sole discretion, taking into consideration the length of service provided to the school system and the financial impact on the school budget such waiver may cause.
• In order to be eligible to receive the unused sick leave incentive the employee must retire and terminate full time employment with the Sevier County School System. Generally an employee will not be eligible to return to full time employment with the Sevier County Schools for a period of five (5) years from his/her retirement date. The employee may not seek or accept a benefits- eligible position with the school system.
• An employee may revoke the signed application for payment of unpaid sick leave and retirement application seven (7) days prior to June 30 of the fiscal year of application. Any such revocation must be in writing and hand-delivered to the Director of Schools.
• The School System shall deduct from the unpaid sick leave incentive payments all legally required taxes, other legally required withholdings
  (garnishments, levies, etc.).
• An employee shall be required to return to the School System any incentive pay or portion thereof made by mistake of fact or law.