Section 35IAC20-1-4. Vacation leave valuation

Latest version.

For purposes of conversion, the value of vacation leave is determined as follows:

STEP ONE: Divide the employee's regular biweekly salary, as of the conversion date, by seventy-five (75).

STEP TWO: Multiply the quotient determined in STEP ONE by the number of hours to be converted.

(Board of Trustees of the Indiana Public Retirement System; 35 IAC 20-1-4; adopted Sep 14, 2012: 20120926-IR-035120542ONA)

                    
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