The Sick Leave Credit Conversion Program Estimator is a tool that can be used to help employees estimate the value of their sick leave credits at the time of retirement.
There are two programs that determine the value of sick leave credits:
- Accumulated Sick Leave Conversion Credit (ASLCC) Program
- Supplemental Health Insurance Conversion Credit (SHICC) Program
This estimator will:
- Use your date of birth and your spouse’s date of birth to determine when you become eligible for lower health insurance premiums based on Medicare eligibility (age 65 assumed).
- Use your expected annual increase in health insurance premiums to determine how long your health insurance premiums may last in retirement.
- Project how many hours of sick leave you may earn (and use) between today and your retirement date.
- Project your annual salary if you choose to enter your estimated annual salary increase.
The estimate you receive is not the final calculation of the value of your sick leave credits and does not guarantee future benefits.
The actual value of your sick leave credits at the time of termination/retirement will be based on your highest basic pay rate in state/Universities of Wisconsin employment, your accumulated sick leave balance, your years of adjusted continuous state/Universities of Wisconsin service and applicable laws, compensation plans and collective bargaining agreements in effect at your termination of employment.
The estimator does not account for employees in a protective occupation, who earn supplemental sick leave credits at a different rate or crafts workers who are generally not eligible for SHICC.
The following information will be needed to complete an estimate of the value of sick leave credits:
- Estimated retirement date.
- Current sick leave balance.
- Continuous service date: This is typically your first day of state or Universities of Wisconsin employment in a position that both earned sick leave and was covered by the Wisconsin Retirement System. This date is adjusted for any breaks in employment. If you do not know this date, reach out to your institution benefits contact.
- If University Staff, current and/or expected highest basic pay rate.
- If Faculty, Academic Staff or Limited Appointee, current and/or expected highest annual salary (this is your annual base salary and does not include overloads, summer pay or any additional pay).
- The current health insurance plan carrier and/or the health insurance plan carrier that you expect to have in retirement.
- Note: The basic pay rate for Accumulated Sick Leave Conversion Credit Program (ASLCC) purposes is the highest hourly rate when in a state/Universities of Wisconsin position eligible to accrue sick leave. For a pay rate to be used in the calculation, an employee must have earned sick leave eligibility for conversion at that pay rate.
Additional information on the Sick Leave Credit Conversion Program can be accessed by navigating to Retirement Plans in the left hand menu, then Sick Leave Credit Conversion Program.
Sick Leave Credit Conversion Program Estimator
Use the Sick Leave Credit Conversion Program Estimator to estimate the value of your sick leave credits at retirement.
last updated: 12/29/2017