The school district offers an early retirement plan for full-time licensed employees. Full-time licensed employees are licensed employees who work 38.75 hours per week and who are currently performing their assigned duties within the school district. A licensed employee is eligible under the early retirement plan when the licensed employee:
· Is over the age of 55 on or before June 30 of the year in which the licensed employee wishes to retire;
· Completes a total of 15 years of service as a full-time licensed employee to the school district;
· Submits an application to the superintendent for participation in the plan on or before March 31 for the year in which the licensed employee wishes to retire. Applications submitted on or after March 31 may be considered at the discretion of the board depending on the circumstances for the late application.
· Submits a written resignation. The resignation may be contingent upon approval by the board of participation in the voluntary early retirement plan; and,
· Receives board approval of the licensed employee's application for participation in the early retirement plan, of the licensed employee's resignation and of the disbursement of early retirement incentive to the licensed employee
Approval by the board of the licensed employee's early retirement application shall constitute a voluntary resignation. Approval by the board of the licensed employee's early retirement application will also make the licensed employee eligible for commencement of disbursement of the early retirement incentive the sooner of July 1 following the licensed employee's approval for early retirement or a date mutually agreed upon by the school district and the licensed employee. Failure of the board to approve the licensed employee's early retirement application will make the licensed employee's current contract with the board continue in full force and effect.
The board has complete discretion to offer or not to offer an early retirement plan for licensed employees. The board may discontinue the school district's early retirement plan at any time.
Legal Reference: 29 U.S.C. §§ 621 et seq. (2006).
Senate File 2366, 77th General Assembly, 2nd Reg. Sess. (1998).
Iowa Code §§ 97B; 216; 279.46; 509A.13 (2009).
1978 Op. Att'y Gen. 247.
1974 Op. Att'y Gen. 11, 322.
Cross Reference: 407.3 Licensed Employee Retirement
413.3 Classified Employee Early Retirement
Approved 9/13/99
Reviewed 10/18/21
Revised 02/14/11
