Board of Education Approves Retirement Incentive
The Board of Education approved a financial retirement incentive for members of Bargaining Units 1, 2, 8, 9 and 10, at the Special Board Meeting held on Monday, January 27, 2014. The incentive is being offered to these units to ensure that the Office of Talent Management has knowledge of upcoming vacancies, as early as possible, so that the highest quality candidates can be recruited for all open positions.
In order to take advantage of the financial incentive approved by the Board of Education you must be in bargaining unit 1,2,8,9 or 10, eligible to retire, choose a retirement date of June 30th and submit a notification form to the District by the close of business on February 28th. Due to contractual changes that raise some healthcare premiums during retirement for employees who retire after June 30, 2014 it may prove beneficial for eligible employees to consider retiring on June 30, 2014.
Employees were notified by email of the details involving their specific bargaining units and have the option to receive the incentive payable in cash or as a 403(b) or 457(b) contribution. If your notification is submitted prior to February 16th, you will receive your incentive payment on March 15, 2014. If the notification is received between February 16th and February 28th, you will receive the payment on March 31st. (Note, if notification is received after February 28, 2014, you will not be entitled to receive a financial incentive for retiring this year.)
To take advantage of the financial retirement incentive, eligible employees need to submit the online electronic form at http://bit.ly/LhszG2. The notification will only be accepted electronically through this link.
The Office of Talent Management will be offering two retirement informational sessions for District employees. The first will be held on February 6, 2014 at 4:00 p.m. in the Fowler Library. The second meeting will be held on February 11th at Nottingham High School in the Cafeteria at 4:00 p.m.