*Retirement incentive. (See article 12 Severance Pay) example:
Early retirement incentive: Teachers may elect to accept early retirement after Twenty-five (25) year of teaching experience (according to the Montana TRS guidelines), twenty (20) of which must have been in the Eureka Public School Dist. #13. They shall receive compensation in the following manner.
If notification is given by June 1 of the previous year to retirement, the retiree shall receive a lump sum payment of $14,000 upon termination. Awarded by ? (What is TRS info?)
If notification is given by Jan. 1 of the year of retirement, the retiree shall receive a lump sum payment of $5,000 upon termination. Awarded by ?
A maximum of 3 teachers per year my apply for the Retirement Incentive. More than this maximum may be permitted by board approval. Preference will be given by earliest date received.
*Extra duty pay tied to base (Estimated to be $17.11/hour)
*Insurance benefits contribution to Health Savings Account.
Increase on the current annual base salary by 2% from $25,389 to $25,897 (Estimated cost to district $51,984)
The addition of steps to the Salary Matrix to 17 years experience. (Estimated cost to district $30,743)