As we stated in our previous communication, there is an active bill regarding a retirement incentive for public employees in New York State, including school district employees.
The bill provides for an incentive under the limited circumstances in which an employee’s position is being eliminated or in which the District will make up the cost of the salary by other reductions within two years. This incentive is likely to have little impact on our membership.
The bill also provides an incentive which would allow employees age fifty-five or older and with at least twenty-five years of service in the system to retire without penalty. This incentive has greater potential for benefit to our membership.
It is important to note, however, that the bill has not been passed into law, and even if it is, both incentives require local districts to opt-in to participation. Therefore, the applicability of the bill to you is dependent not only on passage by the State but participation by your employer.
We will continue to monitor the progress of the bill and keep you informed about it.