Adams-Friendship School Board Approves Changes to Post-Retirement Benefits
Post-retirement benefits will be different in the Adams-Friendship School District. Presently, teachers and administrators in the district have been eligible for 8 years of health insurance when they retired if they were 55 years old and had 15 years of experience in the district or 10 years for administrators. The school board decided to change the eligibility for the 2013-2014 school year. It decided to waive the age requirement for one year only and allow those with 10-15 years of experience to retire with a pro-rated health benefit. School Administrator Rick Waski said that effective July 1st, all post-retirement benefits excluding the Wisconsin retirement System, will be paid in advance while the employees are working. For the next 8 years, teachers and administrators with 20+ years in the district will receive $5000 a year in a TSA, those with 10-19 years of experience will receive $3000 a year, and employees with 0-9 years of experience will receive $1000 a year. In nine years, all employees move to $1000 unless the board at that time decided to increase the benefit. This will cost $250,000 a year more than the insurance for 8 years, but it will save the district $500,000 to over a million dollars a year for every year the program is in place after that. Teachers that want the 8 years of insurance must retire this year, regardless of age.
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