SICK LEAVE PAYOUT
Based on Bargaining Unit Agreements and Board Policy, employees leaving DPS employment for retirement through Colorado PERA are eligible to be paid out the balance of their sick and personal leave accrued.
Retirees can receive their Sick Leave Payout in two forms:
To receive a deferral, the retiree must have an existing and active Tax Sheltered Annuity (TSA) through DPS and have been contributing to the TSA on the last pay check. The TSA must be active for 30 days before retirement. The retiree must fill out the deferral form, which could be found on DPS website under Retirement Checklist (also in a link below under Deferral Information section) complete with retirement date. This form must be received by HR Connect within 30 days of the retirement date.
A lump sum is the default option to be paid out. The retiree will receive a lump sum paid 6-8 weeks following their final regular paycheck unless they choose to do a deferral.
If you would like a Sick Leave Payout Estimate, please contact HR connect at HR_Connect@dpsk12.org or 720-423-3900.