Retirement Incentive Extension

At its meeting on November 9, 2011, the Board of Education approved a Retirement Incentive for Units 1, 2, and 8 (Teaching Assistants only). The retirement incentive notification date has been extended through Friday, January 13, 2012 (4:30 p.m.). No other terms have been modified. (If you already submitted a “2012 Retirement Incentive Form,” it is not necessary to submit another form.)

The District will provide information to interested employees regarding retirement benefits at a general information meeting on Wednesday, January 4, 2012 – 4:00 p.m.
Henninger High School Cafeteria (600 Robinson Street).

Information regarding benefits, NYS retirement, and related contractual items will be presented at this time. No appointment is needed to attend. Upon arrival, you will receive a general information packet that will be reviewed during the meeting. The January 4 meeting is informational only; no decision regarding retirement will be accepted.

If you are unable to attend the January 4 meeting, please contact Employee Benefits at 435-4180, 4532, or 4016 to request a general information packet.

Below are two frequently asked questions. Any other questions you may have can be addressed at the meeting.

Q: If I was under the “24 check option” have my July and August 2011 earnings been reported to the NYS Teachers Retirement System (NYSTRS)?
A: Yes. Any “24 check option” monies paid in July and August 2011 as the balance of an employee’s contract were reported to the NYSTRS as “holdover pay.” July
2011 holdover pay was reported at the beginning of August, while August 2011 holdover pay was reported at the beginning of September.

Q: The amount I was paid in July and August 2011 was not included in my annual statement from the NYSTRS. Why?
A: The NYSTRS has acknowledged receipt of all salary and service for July and August 2011. Page 2 of your annual statement indicates that money earned by
you, but not received by the NYSTRS prior to June 30, 2011, will not be included on your annual statement. These amounts are a part of your current salary and
service record and can be verified by contacting NYSTRS; however, they will not be added to a statement for your review until next year.

You can download the 2012 Retirement Incentive Form here.