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Board reviews Temporary Early Retirement Incentive Program with $41,337 baseline benefit
Summary
The board reviewed a draft Temporary Early Retirement Incentive Program (TERIP) that would offer a baseline benefit of $41,337 and set application and program deadlines; the policy reserves the boards discretion to accept applications and requires a waiver of tenure rights.
The Columbus Public Schools Board reviewed a proposed Temporary Early Retirement Incentive Program (TERIP) for the 2025—6 school year that would offer a baseline early-retirement payment of $41,337 per eligible certificated employee. The policy text ties that amount to single health and dental premium projections from the Educators Health Alliance and allows adjustments if premiums grow faster than assumed.
TERIP would limit eligibility to permanent certificated employees who meet Rule-of-85 retirement criteria and are not already receiving NPERS benefits. Applications must be submitted to the superintendent by Jan. 9, 2026; the board retains sole discretion to accept or reject applications based on financial exigencies and other district priorities. The policy requires participants to resign effective at the end of the 2025—6 year, to sign a waiver and release of claims, and confirms COBRA continuation rights for at least 18 months.
The policy text also details tax and plan-administration consequences: the benefit is paid as a nonelective contribution to the districts 403(b) plan and includes an indemnity clause if withholding or contribution obligations are later imposed. The TERIP program as written would expire Sept. 1, 2026, and the board must act by Jan. 31, 2026 to offer the program for the 2026—6 school year.
