"Sick leave" to "work hours" is popular

"Sick leave" to "work hours" is popular (Alberta Times) Originating in the late 1980s and early 1990s, the practice of purchasing "empty time" allows states...

(Alberta Times)

Originating in the late 1980s and early 1990s, the practice of purchasing "empty time" allows state, local government, and school employees to pay for non-existent years of service, adding up to five years to qualify for retirement and lifetime annuities. Employees who have reached retirement age can also purchase additional "empty time", which can increase their seniority and increase their annuity by up to 25%. In this state, it is even more popular for employees who are about to retire to use their unused "sick leave" to mortgage their working hours. Phoenix City provides 15 days of paid sick leave to civil servants every year. If employees do not use their sick leave, over time, it can bring in a considerable amount of income. In Arizona, which includes all state agencies, higher education, courts and retirement systems, $6.3 million was paid to 502 employees last year, with an average payout of $12,591. In 2010, 903 Phoenix employees used "sick leave" to cover work hours, involving a total amount of US$107,900, an average of US$11,958 per employee. To date, the person in Phoenix who has used the most sick leave to mortgage hours is George Richards in 2010. When the then 58-year-old police officer retired in 2010, he received "sick leave" pay of $144,279, and his annual pension was only $139,963. Phoenix Mayor-elect Greg Stanton said the city will comprehensively review this compensation method to determine whether it saves taxpayers money and maximizes employee productivity.