Senate Bill 6534 extends the sick leave cash-out eligibility to more employees when separating from service. Under previous law, employees needed to immediately collect their pension from the Department of Retirement in order to receive their sick leave cash-out. Under Senate Bill 6534, signed by Governor Locke and effective June 8, 2000, employees who currently (or will) meet the following age and service requirement when leaving service shall now be eligible for cash-out of their unused sick leave or will be eligible for a VEBA III contribution (if their employee group is currently participating in the VEBA III Plan):
Age 55 + 10 years of Service and a Member of:
TRS 3 SERS 3
Age 55 + 15 years of Service and a Member of:
TRS II SERS II PERS II
About VEBA
Founded in 1984, the non-profit Trust for Public Employees in the State of Washington offers tax-free medical expense reimbursement plans to eligible employers. The Trust currently provides benefits to over 12,000 employees statewide and Trust assets exceed $46,000,000. The Trust offers members three investment fund choices.
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