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District offers early retirement
Offer is part of Kanelandâ€™s deficit-reduction plan
by Susan O’Neill
Kanelandâ€”The Kaneland School District is offering a $10,000 incentive to staff members covered by the Kaneland Education Association if they retire a year earlier than planned. This one-time offer is one of the measures the district is taking to help reduce the budget deficit.
Those certificated staff who had given notice to retire at the end of the 2010-2011 school year are eligible to take their retirement at the end of the 2009-2010 school year and receive $10,000. In addition, the employee will receive either $100 or $200 per month, depending upon years of service, to pay for insurance premiums. This amount will be paid directly to the Teachers Retirement System until the employee is eligible for Medicare.
The district estimates that the amount of cost savings per teacher will be between $40,000 and $50,000, according to Associate District Superintendent Jeff Schuler. There are 13 teachers with a retirement letter on file for next year.
â€œA lot of the teachers set to retire at the end of next year are at the top of the salary schedule,â€ Schuler said. â€œWe saw it as a win-win.â€