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Worksheet Sick Leave Buyout Calculation For Chicago State University CSU/UPI Employees Preparing to Retire Due: September 16, 2017, for 20182019 Directions: A payroll representative will calculate
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Sick leave buyout calculation is the process of determining the monetary value of unused sick leave that is paid to employees when they leave their job.
Employers are required to file sick leave buyout calculation for employees who are eligible to receive buyout payments.
To fill out sick leave buyout calculation, employers need to calculate the value of unused sick leave based on the employee's rate of pay and any applicable regulations.
The purpose of sick leave buyout calculation is to compensate employees for their accrued sick leave that they did not use.
The sick leave buyout calculation must include the employee's name, total unused sick leave hours, rate of pay, and the total amount of buyout payment.
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