Only members of this system whose employing municipality irrevocably elects such coverage. Currently, only the following employers have irrevocably elected coverage:
The starting point is your total unused earned annual and sick leave hours that you accrued and accumulated. From that amount, you must subtract the total number of leave hours for which payment can be made in accordance with law at the time of your retirement. Next, your employer will convert the hours to days by dividing by the average number of (non-overtime) hours in your work day. This will be reported by your employer to MPERS. Then, once your employer pays MPERS the full cost, you will be credited in accordance with the following formula:
Days Percentage of a Year
1-26 10
27-52 20
53-78 30
79-104 40
105-130 50
131-156 60
157-182 70
183-208 80
209-234 90
235-260 100
Fractional days of one-half or more shall be granted as one day and less than one-half day shall be disregarded. Any member who terminates his employment for any period of time but who later becomes reemployed as an active contributing member in this system shall contribute to the system for not less than eighteen months subsequent to his reemployment date before using converted unused earned sick and annual leave for purposes of benefit computation. Additional membership service obtained by conversion of unused earned sick and annual leave shall not be used in computation of average final compensation.
No, the only limitation is the reduction for the amount of unused earned annual and sick leave for which payment can be made in accordance with law at the time of retirement (regardless of whether actually paid). Unfortunately, we have had some problems with an employer arbitrarily "changing" the formula set for in R.S. 11:2218(J) by applying a reduction factor. If your employer attempts to do this, then you should consult with your own personal attorney immediately.