Every fall, we send members information about re-employment of retirees and the Early Retirement Incentive. Both of these provisions are explained in detail in Article 15 of the PAT/PPS contract.
We have all fought to maintain these benefits to assure that educators are able to retire with dignity when they feel it’s time.
The PERS Bubble refers to the ability of a PAT member to officially retire under the PERS system during the middle of the school year, but work through the end of the year. This saves PPS money, as they no longer have to make PERS contributions for the educator who retires, because they are essentially “substituting” for themselves for the rest of the year. The educator’s earnings remain intact, PPS saves money, and the students have continuity of instruction.
In order to be eligible for the benefit, a member must retire after November 30th, and provide the District with at least 30 days notice before their official PERS resignation date. For example, if a member wishes to retire at the start of Winter Break on December 20, 2021, they would need to submit the official District Resignation Form at least thirty days prior – approximately November 19th.
Early Retirement Incentive
For educators with at least 15 years of service as of September 20, 2020, this benefit provides insurance contributions for the retired professional educator, and one-half the contribution to the cost of insurance for a spouse or domestic partner, for up to 60 months or until the professional educator becomes eligible for Medicare. The Early Retirement Incentive also provides a stipend of $425 per month, for up to 60 months. See all the details in Article 15 of our contract.
There is a one-time stipend of $1,250 for any educator who gives written notice of retirement to the District prior to January 15th, and a stipend of $700 to any professional educator who gives written notice of retirement prior to February 15th.