Early retirement incentive another cost-saving measure for school

The Greene County board of education is again offering an early retirement incentive for teachers and staff retiring at the end of the school year. Incentives the past two years have resulted in the early retirement of eight veteran teachers and seven non-certified staff members.

The voluntary retirement incentive is available to fulltime employees who have worked for the district for at least 10 years and who will be 55 years of age or older before July 1, 2017. The school will pay 45 percent of the retiree’s contracted salary (excluding overtime pay, supplemental/coaching pay or extended contract pay, as well as the state teacher salary supplement). The policy caps the total incentive paid out at $200,000.

The policy’s stated purposes are to provide possible cost savings to the school district by employing less experienced teachers, administrators and support personnel; to open up job opportunities for new teachers, administrators or support staff; and to provide a one-time monetary incentive for employees to consider retirement.

The incentive will be paid from the district’s management fund, allowing a savings in the general fund.

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