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What is Service Compensation/Termination Pay?

April 26, 2017compensation pay service termination

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What is Service Compensation/Termination Pay?

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A. Service Compensation/Termination Pay is a payment made to retired hourly employees with at least ten years of service. All DC37 hourly titles except for the Family Paras receive a service compensation allowance for each year of service beyond five. They also receive a termination payment of ½ of the hours left in their sick bank up to maximum of 400.