Proposed early retirement plan in Pinellas
At the end of this post is the district's proposed early retirement plan, as presented at yesterday's collective bargaining session. PCTA executive director Marshall Ogletree suggested the offer wasn't sweet enough - $10,000 a year would be more like it, he said at the session. The union will present a counter-proposal at the next session July 26.
The district estimates it will save about $2 million if 100 employees take the offer (and that's not counting the additional savings from hiring even more teachers on provisional contracts, assuming both sides agree to that idea.)
Pinellas County Schools
Early Retirement Incentive Plan for 2010/11
The Early Retirement Incentive Program or ERIP provides an incentive for early retirement for eligible employee while reducing overall district salary and benefit costs. The offering of this program is determined through the collaborative bargaining process. The initial offering will cover instructional staff and school based administrators. Criteria for other personnel may be developed at a later date.
1. Staff paid on the twenty-five years step or higher of the instructional salary schedule.
2. School based administrative staff with twenty-five or more years or service
3. Instructional and school based administrative staff within their first 24 months of DROP.
Employees must apply during the designated two week application period. The number of applications is limited and will be considered on a first come first serve basis. Employees must complete an ERIP application with a resignation/retirement date no later than August 9th. The district reserves the right to cancel the program at any time. Employees who enroll in the ERIP and subsequently are rehired by Pinellas County Schools within three years may be required to repay the incentive.
1. ERIP participants will receive a taxable cash incentive of $24,000 paid at $8,000 per year over three years.
2. The first payment will be made by September 15, 2010. Subsequent payments will be made in September 2011 and September 2012.
• Hiring Guidelines
The position vacated by an employee participating in the ERIP program may only be filled with an instructional staff number with eight or less years of experience. Exceptions to this guideline may be made for critical needs as approved by the Assistant Superintendent of Human Resources.
• The projected enrollment period is July 26 through August 6th.