Employees wishing to apply for participation in the ERPP "…must submit a written letter, between 12/1 and 2/15, to the Executive Director of Human Resources requesting participation.
" Limited to 1.5% of the total number of fulltime employees in the district,
" Based on age + years of service within the district,
" Names drawn at random, by lottery, is more than the allowed number,
" May be limited by budget capacity.
Group One - employees who where members of the ASRS prior to January 1, 1984, and who have 7 years of service or more in the District as of 12/12/01.
Group Two - employees who became members of the ASRS on or after 1/1/84 and who have 7 or more years of service in the District as of 12/12/01.
Group Three - employees who have less than seven years of service in the District as of 12/12/01.
Group Four - employees hired on or after 12/12/01. This group is ineligible for any benefits under this Phase-Out Program.
Group One - employees who where members of the ASRS prior to January 1, 1984, and
who have 7 years of service or more in the District as of 12/12/01.
This option is only available to an employee in Group One who will be age 55 or older,
or who will have 80 points under the ASRS, at the time of his or her retirement from the District.
i. APPLICATION PERIOD - A "Qualifying Year" for Option A is a fiscal year in which, as of July
1, the eligible employee will be 52 years of age or older, or will have a total of 74 points or
more under the ASRS.
An eligible employee in Group One who wishes to participate in Option A must submit to the Executive
Director of Human Resources a written letter between December 1 and February 15 of the fiscal year
preceding a Qualifying Year.
ii. CASH BENEFITS CALCULATION - A participant in Option A receives total cash benefits equal to 150%
of the annual base salary which the employee is receiving in the year preceding the year in which
payment of cash benefits will begin, according to the terms of the traditional salary schedule then
in effect. At no .time will the annual base salary used in the cash benefits calculation exceed the
maximum salary of a teacher with a Master's degree as established by the traditional salary schedule
then in effect
Addendum contract pay, Career Ladder pay, extra duty, premium pay, overtime and other compensation
in excess of the employee's compensation under the District's traditional salary schedule will not
be considered a factor in these computations.
iii. PAYMENT OF CASH BENEFITS. An employee approved by the Governing Board for participation in
Option A shall receive 10% of the total cash benefit for each of five (5) years prior to retirement
from the District, beginning the fiscal year immediately following approval. This pre-retirement
addendum is added to the employee's regular salary paid during each of the last five (5) years of
employment.
After retirement, 10% of the total cash benefit will be paid to the participant each year for five
(5) years after retirement.
If the employee choosing Option A leaves the district prior to Fulfilling the five- year pre-retirement
employment obligation, the remaining port .ion of the five-year pre-retirement addenda will be
forfeited. The post-retirement service and cash benefit payment schedule, as described herein, shall
remain the same and become effective immediately upon termination of employment.
If the employee choosing Option A chooses not to retire from the district after receiving the five-year
pre-retirement cash benefits, all remaining cash benefits under Option A are forfeited by the employee.
In addition, the pre-retirement addendum will cease.
A phase-out participant who forfeits any benefits under this program as described herein is precluded
from re applying for participation and benefits thereafter.
iv. FRINGE BENEFITS. A participant in Option A shall be eligible for health insurance cost support
for five years following retirement or until age 65, whichever comes first, under the following terms
and conditions:
The District will pay an annual stipend to an Option A retiree to assist the retiree in obtaining
health benefits insurance through the ASRS.
This annual stipend shall be limited to the difference between the total ASRS health insurance cost
for retiree only coverage and the amount provided by ASRS to support retiree only coverage. In
no event shall the stipend exceed $900 annually.
v. SERVICE DAYS. Following retirement, a participant shall provide 15 days of service to the District
each year s/he participates in the program, up to a maximum of five years or 75 days of service.
Group Two - employees who became members of the ASRS on or after 1/1/84 and who have 7 or more years of service in the District as of 12/12/01.
This option is only available for an employee in Groups One or Two who will be age 55 or older, or who will have 80 points under the ASRS, at the time of his or her retirement from the District.
i. APPLICATION PERIOD - An eligible employee who wishes to participate in Option B must submit a written letter to the Executive Director of Human Resources requesting participation. This letter must be submitted between December 1 and February 15 of the fiscal year preceding the fiscal year in which the eligible employee desires to retire.
ii. CASH BENEFITS CALCULATION - A participant in Option B receives total cash benefits equal to 150% of the annual base salary which the employee is receiving in the year preceding the year in which payment of cash benefits will begin, according to the terms of the traditional salary schedule then in effect. . At no time will the annual base salary used in the cash benefits calculation exceed the maximum salary of a teacher with a Master's degree as established by the traditional salary schedule then in effect
Addendum contract pay, Career Ladder pay, extra duty, premium pay, overtime and other compensation in excess of the employee's compensation under the District's traditional salary schedule will not be considered a factor in these computations.
iii. PAYMENT OF CASH BENEFITS. An employee approved by the Governing Board for participation in Option B shall receive 10% of the total cash benefit in each of ten fiscal (10) years following retirement from the District, beginning the fiscal year immediately following approval.
iv. FRINGE BENEFITS. A participant in Option B shall be eligible for health insurance cost support for ten years following retirement or until age 65, whichever comes first, under the following terms and conditions:
The District will pay an annual stipend to an Option B retiree to assist the retiree in obtaining health benefits insurance through the ASRS.
This annual stipend shall be limited to the difference between the total ASRS health insurance cost for retiree only coverage and the amount provided by ASRS to support retiree only coverage. In no event shall the District paid stipend exceed $900 annually.
v. SERVICE DAYS. Following retirement, a participant shall provide I 5 days of service to the District each year s/he participates in the program, up to a maximum of ten years or 150 days of service.
c
This option is available to an employee who is in Groups One, Two, or Three.
i. APPLICATION PERIOD - An eligible employee who wishes to participate in Option C must submit a
written letter to the Executive Director of Human Resources requesting participation. This letter
must be submitted between December 1 and February 15 of the fiscal year preceding the fiscal year
in which the eligible employee desires to retire.
ii. CASH BENEFITS CALCULATION - An employee approved to participate in Option C receives $200 for
each year of service in the District.
iii. PAYMENT OF CASH BENEFITS. Payment of the total cash benefits under Option C shall be made by
way of an addendum, paid during the employee's last year of employment prior to retirement.
iv. FRINGE BENEFITS. A participant in Option C receives no fringe benefits from the District following
retirement but may be eligible for health care coverage under the ASRS 2.
v. SERVICE DAYS. Following retirement, a participant in Option C has no obligation to provide service
days to the District.
There are several more pages of technical jargon that you can read on your own. Contact your local
AR or call the Office. They are:
1. General Service Conditions
2. Waiver of Employment Rights
3. Occurrence of Disability
4. Occurrence of Death
5. Finality and limitation of Benefits