Accrued Leave Payout

Eligible staff may receive annual vacation leave payout by lump sum or may use their annual vacation leave before officially retiring from the university. All retirees will receive one additional month of medical coverage at active employee rates following their retirement effective date. 

For example, if you exhaust your annual vacation leave on May 15th, all university benefits will continue through the end of the month. You will then be extended one additional month of medical coverage at active employee rates through June 30th at which point you will be offered retiree medical coverage if under age 65. Once retiree turns 65, they will transition off the university’s group health plan and on to Medicare.

Lump sum payout

At retirement, eligible staff can receive a maximum payout of 44 days of annual vacation leave and up to 30 days of sick leave. Once staff officially retire, they will be paid out on their last paycheck.

Paid out over time 

Eligible staff can choose to use their annual vacation leave (up to 44 days) before officially retiring from the university. Once annual vacation leave has been exhausted, staff will officially retire, and be paid out up to 30 days of sick leave on their last paycheck.

For questions on eligibility and/or how much time you have or will have accrued, please contact your Unit Business Manager or the Payroll Office at (502) 852-2978.

For example, Steven’s last official workday is Monday, October 2nd, and he has 10 vacation days. Steven will exhaust his 10 days of annual vacation leave on October 16th, and his retirement effective date will be October 17th. His dental and vision benefits will continue through October 31st and medical benefits will go through November 30th since as a retiree, he receives one additional month of medical coverage at the active employee rate. Steven will be eligible for retiree medical coverage on December 1st because he is under age 65.