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Utah already offers two programs that let state employees convert unused sick leave into retirement benefits when they leave state service, and this bill creates a third. Under the new Program III, state employees hired on or after January 4, 2014 receive a direct cash payment equal to 50% of their unused sick leave hours, calculated at their pay rate at the time of retirement. Employees currently enrolled in the older Program I or Program II can also make a one-time, permanent election to transfer their accumulated unused sick leave hours into Program III instead.