This is how mine works too. 16 hours vacation and 8 hours sick leave every month. We can carry over 200 hours of vacation at the end of each year, excess is put into your sick leave. You never lose sick leave, but you also don't get paid for it if you leave.
I really should take more mental health days...
Our vac technically maxes at 240 but anything over that then goes in to a separate 'use or lose' pool, which has to be exhausted by July 1st. If you don't use it, you still have a window to be paid out up to 40 or put up to 90 hours (they bumped this limit up after COVID) worth into your retirement health savings acct, which is what I do since it can be used to pay for monthly premiums after you retire. I've got enough time in now that about 3 weeks of vacation comes out of my use or lose pool and not the actual vacation bucket (why we take off to Colorado every June), and then I'm still left with 240, so I immediately start building up use or lose again; rinse, repeat. A crapload of people here could retire but they stay for the health coverage savings, which is the situation I'm mainly trying to avoid as that's almost the universal reason folks don't retire here (and many other jobs). As it stands I'm basically gaming the system now to help push my retirement date forward (Oct 2030 is earliest "full retirement" date), plus I'll always have a lot of paid time off if an emergency crops up.
We (not new hires now) also get $600 for every year of service so that'll be another chunk that, I'm hoping, will tide me over 'til Medicare kicks in. Also get 50% of sick time paid out when you retire and I'm on 950 hours now. No way in hell I'm gonna' be a Wal-Mart greeter at 60, if I can help it. When I'm done, I want to be done. If I go back to work it'll hopefully be MY choice and not due to financial burden. If all else fails I can retire, find another job and my pension will still begin paying out, as long as the new employer is not under ASRS rules. That's likely what'll happen and, with the added time of me being able to self-fund health insurance for a good while, I'll have time to travel and then find a job ( age discrimination not withstanding) I love and be able to double-dip with wages from a job I enjoy and my pension. I'm already saddling up with certain folks at the Phoenix Zoo, so hopefully that'll pan out.
The closer to retirement I get the more I understand why so many retirees are on strict budgets...fail to prepare, prepare to fail.