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How will vacation and sick leave buyouts at termination/retirement?

Public Acts 094-0004 and 094-1057 contain a 7/1/2011 sunset provision. There is an exception to the sunset provisions for the following:

Exclusions for earnings increases described in 40 ILCS 5/15-155(h) paid on or after July 1, 2011, but before July 1, 2014, under a contract or collective bargaining agreement entered into, amended, or renewed on or after June 1, 2005, but before July 1, 2011, under 40 ILCS 5/15-155(i). For the purpose of 40 ILCS 5/15-155(i), a contract or collective bargaining agreement is "entered into, amended or renewed" on the earliest of the following:

  1. the date the governing body of the employer voted to accept the contract or collective bargaining agreement.
  2. the date the contract or collective bargaining agreement was executed in final form by the parties.
  3. the date the parties to the contract or collective bargaining agreement reached a tentative agreement regarding the terms of the contract or collective bargaining agreement, provided that the tentative agreement is subsequently approved by the governing body of the employer on or after July 1, 2011, without any changes to the terms that have the effect of extending the expiration date.