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Board approves $12,000 retirement incentive for eligible certified teachers
Summary
Trustees approved a retirement incentive offering up to $12,000 targeted at long-serving certified teachers; administrators warned total payout costs could be higher once retirement-system formulas and payout options are applied.
The Columbus Public Schools Board approved a retirement incentive program offering $12,000 to eligible certified teachers as part of the collective bargaining agreement. The superintendent said the program is aimed at educators with at least 25 years in public education (and at least 15 years in the district) and that the board would offer the incentive to the top five applicants if more than five apply, with preference by seniority.
The superintendent explained the headline $12,000 per teacher does not reflect total payout costs once retirement-system calculations for vacation, sick payout and benefit options are included. "Let's say that all 5 okay. That's $60,000 really isn't $60,000. It's a it's double that based on their payout for the vacation sick and the options that they choose in the teacher's retirement system," he said, giving a rough example that the total cost could be substantially higher.
Trustees discussed funding sources for the incentive, including a multi-district agreement fund (superintendent said about $420,000 is available), metal-mines revenue, and a compensated-absence fund the business officer said could be used to start payments. The board approved offering the incentive and set application timing so approvals and any resignations could be processed before the February meeting.
