This an article of the 2000-2003 contract with teachers that are represented by the Alameda Education Association. Here the complete table of contents of the contract.

ARTICLE 15

EARLY RETIREMENT INCENTIVE PROGRAMS

15.01 Reason for Programs

These early Retirement Incentive Programs shall provide employees of retirement age the opportunity to exercise their retirement options at an earlier age.

15.02 Available Programs

The available programs shall be as follows:

A. Consultancy Programs

B. Benefit Only Program

C. Incentive Payment Program

D. Golden Handshake Program

E. Part-Time Employment with Full-Time Retirement Credit

An employee may participate in only one program.

15.03 Eligibility

Employees desiring to participate in these programs shall:

15.03.01 Be of the following ages:

Consultancy - 55-65 years

Benefit Only - 55-65 years

Incentive Payment - 55-60 years

Golden Handshake - 55 plus years

Part-Time Employment with Full-Time Benefits - 55-60 years

15.03.02 Be employed in the District for at least ten (10) years. The ten years need not be consecutive full-time employment, but total service must be equivalent to at least 10 full-time years at the date of entry into the program.

15.03.03 Be placed at or above Col. IV, Step 13, or its dollar equivalent, or be able to demonstrate that the option chosen shall result in a savings to the District.

15.04 Timeline

Employees desiring to participate in these programs shall apply to the Chief Personnel Officer on or before March 15 prior to the beginning of the school year during which the applicant wishes to retire. Such applications shall be confidential except insofar as the provisions of this article and the law otherwise provide, or with the employee's consent.

15.05 Programs

A. Consultancy Program

15.05.01 The Chief Personnel Officer and the employee shall mutually determine annually the consultancy services to be rendered and shall reduce to writing a description of such services. The written description shall be attached to the consultancy agreement. Any change in services during the contract year shall be made only as mutually agreeable to the employee and the District.

15.05.02 Employees entering this program must submit a written resignation and have it accepted by the Board of Education prior to entering this program. The resignation is contingent upon the acceptance by the Board of Education of the employee's participation in the Early Retirement Incentive Program.

15.05.03 Entrance into the program is subject to review and approval by the Governing Board. Employees participating in this program shall enter into a written agreement with the District. The Agreement shall be a one-year contract which is renewable, upon completion of the previous year's service on an annual basis for up to three (3) years or until the end of the school year in which the retired employee reaches age sixty-five (65), whichever comes first. The contract may be terminated by the District for inadequate performance of the assigned activity.

15.05.04 Employees in this program shall serve the amount of time necessary to complete the approved project. In no event may the District require more than 30 days service per school year.

15.05.05 Employees in this program shall be compensated at a base salary of six thousand five hundred dollars ($6,500).

15.06 B. Benefit-Only Program

Program participants shall receive a dollar amount equal to the cost of health and welfare benefits at the level of coverage provided the employee at the time of retirement. This benefit is available for five (5) years or until the end of the school year in which the employee reaches 65, whichever comes first.

15.07 C. Incentive Payment Program

Program participants shall receive a one-time payment of $15,000 from the District with the payment schedule to be determined mutually between the District and the employee by June 30. This option precludes any further health and welfare benefits at District cost.

15.08 D. Golden Handshake

The Board will authorize employee participation in the Golden Handshake Program (Ed Code Section 44929) resulting n two additional years of service credit for STRS participants if the statutory requirements are met and it can be demonstrated that the employee's retirement will result in a savings to the District.

15.09 E. Part-time Employment with Full Retirement Credit

15.09.01 Provisions

Certain employees of the District will be permitted to reduce their workload to not less than one-half time of regular full-time employees and will be permitted to have retirement benefits based on full-time employment.

15.09.02 STRS

The District and the employee will make the contribution required of full-time employees to the State Teachers Retirement System.

15.09.03 Optional Part-Time Employment

15.09.04 Salary

The employee shall be paid a salary which is the pro- rata share of the salary the employee would be earning had he/she not elected to exercise the option of part-time employment, but shall retain all other rights and benefits for which the employee makes the payments that would be required if he/she remained in full-time employment. The employee shall receive fringe benefits in the same manner as a full-time employee.

15.09.05 Minimum Part-Time Employment

The minimum part-time employment shall be the equivalent of one-half of the number of days of service required by the employee's contract of employment during the final year of service in a full-time position.

15.10 Retirement

Part-time employment pursuant to this section shall be limited to five (5) years. At the time of application for this program, the employee shall agree to submit his/her resignation by September 30 of the fifth year of the program and to retire not later than the end of the fifth year.

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Last modified: January 12, 2004

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