Section 7.2  Sick Leave Payout
     Subdivision 7.21  Cash Payment Option
     Effective July 1, 1981, upon retirement, a faculty
      member shall receive cash payment for accumulated unused
      sick leave in accordance with Chapter 70A.23 of the Code
      of Iowa (1993) as amended by Chapter 2.42 of the Iowa
      Acts (1979) as in effect as of February 27, 1981,
      payable during the pay period preceding the faculty
      member's retirement date.
     Subdivision 7.22  Premium Payment Option
     Effective July 1, 1981, if a faculty member so chooses,
      payment will be made for monthly premiums for health or
      life insurance or both in lieu of cash payment in
      accordance with Chapter 79.23 of the Code of Iowa (1979)
      as amended by Chapter 2.42 of the Iowa Acts (1979) as in
      effect as of February 27, 1981, so that the coverage
      provided is continuous.