10.8 Termination Pay
(Universitywide Administrative Memorandum 440.4; Arkansas Code Ann §21-4-501)
When you leave university employment, the amount due to you from unused accrued annual leave, up to thirty days or 240 hours, will be paid to you as a lump sum, in a separate payment issued on the last working day of the month following your termination month. For example, if your termination date is February 15th, you will receive your termination pay on March 31st. You will also receive payment for any compensatory time accrued as a result of approved overtime work and any accrued holiday time if you are a non-exempt employee. If you receive payment for unused leave, you may not return to employment with the university or with any other state agency or institution until the number of days for which you received the additional compensation has expired. If you have any unpaid debts to the university at the time of your termination, the university will withhold an amount from your final paycheck to cover them. If you die while you are an active employee, your estate will be paid any amount due to you for up to sixty days or 480 hours accrued annual leave.
If you are a classified employee, you may receive compensation for unused sick leave when you retire, in accordance with the formula outlines in Section 7.3, above. If you return to state employment, you will not be required to wait nor to repay compensation for unused sick leave received at retirement.
Thursday, February 22, 2021 2:22 PM