H-D to examine early retirement

The Hampton-Dumont Board of Education will discuss the finer details of an early retirement plan for qualifying teachers in the district, after the board heard the positions of teachers who would consider taking the plan.
Superintendent Todd Lettow was approached by four teachers prior to the board’s Tuesday night meeting on Nov. 15 about the possibility of taking early retirement. Lettow explained to the board that the teachers’ rationale was that if they are able to take an early retirement, then that would vacate positions for possibly displaced CAL teachers after whole grade sharing takes place next year. The compensation the teachers would be asking for is single insurance until they can receive insurance through the Iowa Public Employees' Retirement System (IPERS) at 65 years old.
Lettow expressed that should the district offer early retirement, that the school would be able to protect the general fund, as the teachers’ salaries would be eliminated, and the costs would then shift to the management fund, at a total $6,000 per year, per person.
Read the full story in the November 22 edition.