At retirement, as defined in the College's Retiree Benefits policy, every accumulated sick leave reserve day will convert to an insured day (weekends and the holidays listed in this handbook do not reduce Sick Leave Reserve), For each insured day the College will pay 100 percent of the premium to continue the medical and dental benefits for the enrolled employee and enrolled eligible dependents, until the end of the month in which the last insurance day is used. Example: If an employee retires with 30 accumulated sick leave reserve days on July 1, 2014, the employee's converted sick leave reserve would run out on August 12, 2014 and his or her insurance would continue until August 31, 2014. (Retiring part-time employees may convert CTO hours to paid insurance days as well.) The conversion rate is 7.75 hours per day for Middlebury employees and 7.5 hours per day for MIIS employees.
Faculty members do not have sick leave reserve or CTO. They will be given a week of retiree insurance coverage for each academic year in which they carried a full course load. The vice president for Academic Affairs and the associate vice president for Human Resources will resolve all conflicts and pro-rate the coverage for years in which there was a reduced course load.
Sick Leave Reserve Survivors' Conversion
If a Middlebury College employee dies while in an active status, survivors' benefits will be provided (for eligible dependents) in the medical and dental plans. See Survivor Benefits section of this Handbook for details.
Note: There is no cash conversion of sick leave reserve. Conversion of sick leave reserve to insurance days is available only as outlined in the sections on Sick Leave Reserve Conversion at Retirement, and Sick Leave Reserve Survivors' Conversion.