The Eddyville-Blakesburg-Fremont school board has approved offering an early retirement plan for teachers. The early retirement incentive will be offered to certified employees meeting specific criteria.
“I had serious thought about not offering early retirement this year,” said E-B-F Superintendent Dean Cook. However, “We did have an individual interested in early retirement, and that frees up some dollars in the general fund.”
Board member Kevin Lane said he was a little concerned that if the plan is offered too frequently, it may become an expectation of teachers.
“I’m just a little hesitant,” he said.
“This is a little different from what we have offered in the past,” Cook said.
Teachers are deemed eligible if they are at least 55 years of age and have completed at least 12 years of full-time contracted service in the Eddyville-Blakesburg and/or Fremont school districts.
The incentive is a $20,000 cash payment to be paid in three equal payments over a three-year period as well as full single health, dental and life insurance, until the participant is eligible for Medicare. Or as an alternative to insurance, employees may opt for a one-time payment of $6,000.
The board approved the plan with board member Jeff Claypool saying, “I think this is in the best interest of the school district.”
Three teachers will be eligible for the plan, which will only be offered to certified employees who opt to retire from the district before July 1.
The plan states in part, “This Early Retirement Plan is designed to show the District’s appreciation for the services an employee has rendered to the District, to aid the employee in their transition from public service, and to save District funds through reduction in staff and/or replacement savings (Ex. outgoing cost $50,000 and incoming $30,000).”