School Board expands early retirement incentive plans

The Clear Lake School Board, which has offered early retirement incentives to its certified (licensed) staff for a number of years, will now offer an early retirement opportunity for its classified employees, including custodians, bus drivers, para educators and cooks.

“Retirement is a choice when someone finds they are ready.  This just gives them some options,” said Superintendent Anita Micich.  Board Secretary Lorna Leerar said she had already received positive comments from classified staff pleased the Board was considering early retirement incentives.

The offer made to classified staff is not as sweeping as the salary and benefit incentives offered to certified staff.

Approximately 21 persons are eligible to consider the retirement incentive, according to Leerar.  To be eligible, staff must be at least 55 years of age as of June 30 of the year of retirement and are current classified employees who have completed 10 or more consecutive years of service in the Clear Lake Community School District.

A benefit payment of 25 percent of the employee’s basic salary will be placed in a non-elective 403(b) Special Pay Plan at the time of retirement.

Certified staff members, such as teachers, nurses, counselors and others who are licensed professionals, are offered a 403(b) equal to 100 percent of the employee’s current regular salary, minus the BA Step One salary amount.  In addition, the district will pay the full amount of the cost of the premium for the health insurance coverage which the employee had in effect at the date of their retirement for a period of 48-months, or until the employee attains the age of Medicare eligibility.  Certified staff must also be age 55 by the actual date of retirement and have worked a minimum of 10 continuous years in the school district.

All employees interested in early retirement programs must submit a written application for the superintendent no later than Jan. 16, 2015.