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Board approves reduced early-retirement incentive, sets Feb. 27 deadline for irrevocable letters
Summary
The board directed the superintendent to offer an early-retirement incentive that reduces required retirees to six and minimum PSERS service to 22 years if irrevocable letters are submitted by Feb. 27; the motion passed by roll call.
The Oley Valley School District board on Feb. 17 moved to direct the superintendent to communicate a revised early-retirement incentive to the Oley Valley Education Association that lowers the number of required retirements to six and reduces the minimum years of service in the Pennsylvania Public School Employees' Retirement System (PSERS) to 22, contingent on irrevocable letters being submitted by Feb. 27.
Mrs. Coral moved the directive and it was seconded; the board approved the motion by roll call. The motion includes a submission deadline: irrevocable letters must be received by Feb. 27 for employees to be eligible under the reduced terms. The board's solicitor drafted motion language to provide the board flexibility in framing the incentive, according to the presiding officer.
The motion was presented during the negotiations committee portion of the agenda and passed unanimously by the board members present. The motion directs district staff to open communications with the bargaining unit; the specifics of which employee positions will be eligible and the fiscal impact were not provided during the meeting and will be handled through the superintendent's communications with the Oley Valley Education Association.
Next steps: the superintendent's office will notify the association about the revised terms and the Feb. 27 irrevocable-letter deadline; the board did not adopt specific payout amounts or an explicit budget item during the meeting.
