E-V. Savings and Retirement Program

The BOARD will contribute, at retirement, a percentage of the value of an employee’s unused retained sick day bank to the employee’s 403(b) account, within legal limits, based on retirement benefit eligibility requirements. The “retained sick day bank” shall be as defined in Article 37-4 above and subject to the terms of that article. The percentage shall be as set forth in Article 37-4 above. If no account exists, one will be established with one of the authorized vendors, based on agreed-upon criteria.