(1) At its discretion, a state-supported institution of higher education may compensate a nonclassified employee of the state-supported institution of higher education for accumulated unused sick leave by providing to the nonclassified employee the same compensation for accumulated unused sick leave provided to a classified employee of the state-supported institution of higher education under § 21-4-501.
(2) Compensation for accumulated unused sick leave under this section shall not be used by the: Arkansas Teacher Retirement System in the calculation of final average salary under § 24-7-202; or
(3) Arkansas Public Employees' Retirement System in the calculation of final average compensation under § 24-4-101.
(4) Unused sick leave for nonclassified employees of state-supported institutions of higher education shall accrue at the same rate as unused sick leave accrues for classified employees for calculations made under this section.