Teachers in Chester, Deep River, Essex & Region 4 Offered Early Retirement Incentive

By: Charles Stannard

REGION 4– Region 4 school boards are offering an early retirement incentive to teachers at district schools in Chester, Deep river and Essex.

Superintendent of Schools Ruth Levy said the retirement incentive for “veteran teachers,” is an effort to generate some savings on salaries in the 2010-2011 education budget that is now under preparation. More experienced teachers earning higher salaries would be replaced by new and younger teachers that would start lower on the salary scale. The last time Region 4 offered an early retirement incentive to teachers was in 2005.

Levy said at least 19 of the district’s 220 teachers would be eligible for the early retirement offer. Teachers must meet state teacher retirement requirements, which include being at least 50 years old with 20 years of service as a public school teacher, or any age with at least 25 years of service as a public school teacher. Prospective retirees would also be required to have at least five years teaching in Region 4 schools.

Teachers have been offered three incentive options. One is a cash payment buyout of $10,000 per year for five years. The other options provide no cash payout, but would guarantee continued health insurance coverage for five years for an individual, or four years for an individual and spouse.

Teachers must apply for the early retirement incentive by Feb. 26. Levy said she expects each of the district’s five school boards to approve the incentive offer by the end of the month.

The early retirement incentive has already been approved by the Supervision District Committee and the Essex Board of Education, with action pending for the Region 4 Board of Education and school boards in Chester and Deep River. The incentive plan must be formally authorized by each of the district’s five school boards.