1. PURPOSE
It is the expressed intent of the Board, through this policy, to acknowledge full time classified and administrative employees who have provided years of service to the School District by offering them a voluntary early retirement incentive subject to the terms and conditions set out in this Policy.
2. STATEMENT OF NON-DISCRIMINATION
The School District will not discriminate against any employee on the basis of age, gender, race, color, creed, religion, national origin, or disability through the application or administration of this policy.
3. ELIGIBILITY
A regular, full-time classified employee is eligible for early retirement if the employee:
a. has reached at least the age of 55 by January 1 of current school year,
b. has continuously worked a minimum of the most previous ten years of service at the School District and is actively employed on a full-time basis as a classified or
administrative employee during the last school year prior to early retirement,
c. notifies the board as provided by this Policy, not later than 4:00 pm on December 23rd,
d. retires effective not later than the end of the current contract year,
e. is not eligible for, applying for, or receiving benefits under a leave of absence or other District plan,
f. has not received a notice as of December 23rd concerning termination of the employee’s contract, unless the notice is based upon reasons which are related to staff reduction,
and
g. has not previously received early retirement benefits from the School District.
4. DEFINITION OF TERMS
a. Years of service - Years of service must be consecutive and most recent.
b. Continuously Worked - Continuous employment must be without any voluntary interruptions of service. Interruptions due to reductions in force or due to approved leaves of
absence will not constitute a voluntary interruption in service, unless the interruption or leave exceeds twenty-four (24) consecutive months in length. However, the period
of time during which an employee is absent due to a reduction in force or due to an approved leave will not be counted for purposes of determining the minimum years of
service required to establish eligibility.
c. Regular full-time classified or administrative employee - A regular full-time classified or administrative employee is an employee who works a minimum of four hours per
workday for 180 workdays or more each school year.
d. “Actively employed” – means the employee has been at work and performing assigned duties for at least 80 percent of the workdays over the previous 12 months.
5. APPLICATION
a. Under ordinary circumstances, applications must be received by the Superintendent not later than 4:00 pm on December 23rd in the year in which retirement is to take effect.
b. The date of retirement for eligible employees will ordinarily be the end of the individual’s contract year. However, another date may be requested and approved by the
Board.
c. Application materials must include the following forms:
1. Request for Retirement and Resignation of all current district contracts
2. Designation of Beneficiary Form
3. Release of Claims Form
4. Agreement Not to Reapply for Employment. (However, this agreement does not prohibit the School District from offering employment to the employee in the future.)
d. An employee’s application for early retirement benefits is not, in itself, a resignation nor does it require the Board to accept the application. However, acceptance by the
Board of an employee’s application for early retirement will be considered a voluntary resignation and termination of the employee’s contract of employment. If the Board
does not accept the employee’s application, the employee’s contract will continue in effect.
6. BOARD’S RIGHT TO LIMIT OR DENY BENEFITS
a. The Board reserves the right to determine whether any early retirement benefits will be paid in a given year, and, if so, to determine how many employees will be granted
benefits. The Board expressly reserves the right to reject any application for early retirement benefits.
b. If the Board decides that only a limited number of employees will be granted early retirement benefits in a given year, the Board will then determine the maximum number
of employees who may receive benefit. Recipients will be selected on years of service. If there is a tie between or among employees using the seniority rule, the tie will
be broken by a random process.
c. Each year this policy is in effect, the Board will make a determination regarding the payment of early retirement benefits and announce its decision to employees.
7. EARLY RETIREMENT BENEFIT
a. Early retirement benefits are offered as an inducement to, and consequence of retirement and are not to be construed as a continuation of salary.
b. Payment of this benefit, in one lump sum, shall be made in September of the year in which the retirement begins.
c. In the event of the death of the early retiree, any remaining or unpaid benefit will be paid to the beneficiary designated by the retiree or, if no beneficiary is designated, to the
retiree’s estate.
d. Payment is subject to applicable taxes such as withholding for federal and state income taxes, social security etc. Employees will not be paid interest on any funds held
by the District.
8. CONTINUATION OF INSURANCE
Employees retiring under the early retirement program are eligible to continue participation in the school district’s group insurance plan at the employee’s own expense until the employee reaches sixty five years of age. Employees must meet the requirements of the insurer and must pay the monthly premium amount in full to the board secretary prior to the due date for the school district’s premium payment to the insurer.
9. RIGHT TO AMEND OR REVOKE
The Board reserves the right to amend or revoke this Early Retirement Policy or any provision of this policy at any time, with or without notice.
The Board also reserves the right to waive any requirement or condition of this policy at its discretion and at any time. Any decision by the Board to waive a requirement or condition which is a part of this policy shall not establish any precedent with regard to future requests for a waiver.
Initially Approved 03-08-1999
Last Reviewed 12-22-2021
Last Revision 12-09-2020
