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.
Showing posts with label Retirement. Show all posts
Showing posts with label Retirement. Show all posts
Thursday, March 24, 2011
Tuesday, March 8, 2011
Older Teachers Would Get Help to Retire Early Under Senate Measure
Andrew Garber
Older Teachers Would Get Help To Retire Early Under Senate Measure
The Seattle Times
Tuesday February 22, 2011
http://seattletimes.nwsource.com/html/localnews/2014303070_teachers23m.html
Intended audience: Educators and pre-service teachers
Senate Majority Leader Lisa Brown proposed Senate Bill 5846 in an effort to entice older teachers (or at least those under age 65) to retire, which will pave the way for younger, newer teachers to enter the field. The bill states that newly retired teachers will earn an extra $250 monthly to help cover expenses, such as medical insurance, to help bridge the gap until teachers are able to collect Medicare and Social Security benefits. The bill’s proposal offers this incentive for a three year period. The bill would help the budget by allowing the highest paid educators (about 5,000 of them would currently qualify) to exit the system and be replaced with less expensive rookie teachers. If all 5,000 older aged educators were to retire, the estimated expense would be 48 million over the three year period. Supposedly the motivation is not just financial, but helps the teachers who may have burnout, medical or other health issues that create the need for retirement, but who cannot afford to do so until they turn 65. This bill would also help to accommodate those specific needs as well as freeing up more space in the school system for newer teachers.
I found this really interesting because we all, as incoming teachers, are faced with a difficult prospect of being hired right away. We all understand that we may have to sub. Or work other jobs until we are able to squeeze in somewhere. The culprits are the budget, and the high number of teachers who are holding out on retirement because of the poor economy. We all hope that older teachers will retire, but don’t blame them for not until the economy climbs. It does seem, however, that the incentive of a measly $250 a month does not in any way seem practical to cover any significant “living expenses”. I think as pre-service teachers and current students, we will be waiting a while until teachers finally feel comfortable retiring, and should not hold our breath for such a bill to pass.
Older Teachers Would Get Help To Retire Early Under Senate Measure
The Seattle Times
Tuesday February 22, 2011
http://seattletimes.nwsource.com/html/localnews/2014303070_teachers23m.html
Intended audience: Educators and pre-service teachers
Senate Majority Leader Lisa Brown proposed Senate Bill 5846 in an effort to entice older teachers (or at least those under age 65) to retire, which will pave the way for younger, newer teachers to enter the field. The bill states that newly retired teachers will earn an extra $250 monthly to help cover expenses, such as medical insurance, to help bridge the gap until teachers are able to collect Medicare and Social Security benefits. The bill’s proposal offers this incentive for a three year period. The bill would help the budget by allowing the highest paid educators (about 5,000 of them would currently qualify) to exit the system and be replaced with less expensive rookie teachers. If all 5,000 older aged educators were to retire, the estimated expense would be 48 million over the three year period. Supposedly the motivation is not just financial, but helps the teachers who may have burnout, medical or other health issues that create the need for retirement, but who cannot afford to do so until they turn 65. This bill would also help to accommodate those specific needs as well as freeing up more space in the school system for newer teachers.
I found this really interesting because we all, as incoming teachers, are faced with a difficult prospect of being hired right away. We all understand that we may have to sub. Or work other jobs until we are able to squeeze in somewhere. The culprits are the budget, and the high number of teachers who are holding out on retirement because of the poor economy. We all hope that older teachers will retire, but don’t blame them for not until the economy climbs. It does seem, however, that the incentive of a measly $250 a month does not in any way seem practical to cover any significant “living expenses”. I think as pre-service teachers and current students, we will be waiting a while until teachers finally feel comfortable retiring, and should not hold our breath for such a bill to pass.
Monday, February 28, 2011
Older teachers would get help to retire early under Senate measure
“Older teachers would get help to retire early under Senate measure” by Andrew Garber
The Seattle Times, Olympia Bureau
Published 2/22/11
Retrieved 2/27/11
Complete URL: http://seattletimes.nwsource.com/html/localnews/2014303070_teachers23m.html
Intended Audience: teachers
Summary: A new bill proposes to give financial incentive to help older teachers more easily transition into retirement at an earlier age (approximately 3 years earlier). The bill would provide a $250 monthly stipend to help cover medical expenses before they become eligible for Medicare. Supporters of the bill predict these expenses will be offset by replacing newer, lower-paid teachers with the more experienced, higher-paid teachers who retire early. The salary difference between new teachers and veterans is reported to be around $23,000.
Key Point: Older, higher-paid teachers will receive financial support to retire early.
Relevance: Allowing – or encouraging – older teachers to retire early creates more room in the job market for new teachers. Not sure how else to say it, relevance is pretty self-explanatory in this case.
The Seattle Times, Olympia Bureau
Published 2/22/11
Retrieved 2/27/11
Complete URL: http://seattletimes.nwsource.com/html/localnews/2014303070_teachers23m.html
Intended Audience: teachers
Summary: A new bill proposes to give financial incentive to help older teachers more easily transition into retirement at an earlier age (approximately 3 years earlier). The bill would provide a $250 monthly stipend to help cover medical expenses before they become eligible for Medicare. Supporters of the bill predict these expenses will be offset by replacing newer, lower-paid teachers with the more experienced, higher-paid teachers who retire early. The salary difference between new teachers and veterans is reported to be around $23,000.
Key Point: Older, higher-paid teachers will receive financial support to retire early.
Relevance: Allowing – or encouraging – older teachers to retire early creates more room in the job market for new teachers. Not sure how else to say it, relevance is pretty self-explanatory in this case.
Subscribe to:
Posts (Atom)