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How is severance pay calculated?

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How is severance pay calculated?

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Severance pay is payable based on the member’s item of release in accordance with CBI 204.40 and shall be calculated using the following formula: Seven days pay, at the rate pay applicable on the date of release, for each full year of continuous full-time paid service, not exceeding 30 years (for a maximum of 210 days severance pay).

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