Lake Oswego School District Offering Retirement Incentives to Teachers

Nichole Dungca
Lake Oswego School District Offering Retirement Incentives to Teachers
The Oregonian
Thursday March 17th, 2011

http://www.oregonlive.com/lake-oswego/index.ssf/2011/03/lake_oswego_school_district_offering_early_retirement_incentives.html

I wanted to follow up on this issue because last round I posted an article about a Washington State Senator who was proposing incentives for older teachers to retire as well, and I was surprised to see that such steps have not only been proposed, but are moving into action here locally.

Intended audience: Administrators and pre-service teachers

Key Points: Those teachers who are at least 15 year veterans and are considering retirement can be offered severance payouts as well as free or reduced medical insurance until age 65 in an effort to meet the demands of budget cuts and staffing needs, according to the Lake Oswego School District. Details are listed below:
•Teachers between 62 and 65 years old who have at least 15 years of service will get a $10,000 payout as well as paid two-party medical and dental insurance coverage for up to 10 years or until age 65.
•Teachers between 52 and 61 years old with at least 15 years of service -- as well as teachers of any age who have 15 years of service in the district and 30 years of coverage under PERS -- will receive the same $10,000 payout.
•Teachers who are 58 years old with 10 to 15 years of service in the district will now be eligible for single-party medical and dental insurance until age 65.
Relevance: The fact that older more experienced teachers may slowly be coaxed into retirement makes me hopeful that sooner rather than later the job market for younger teachers will improve.