Early Retirement Option

Certificated Employees When it is beneficial to the district, the Governing Board may offer certificated employees the option to retire early in accordance with law. Two Years of Service Credit Retirement Incentive As an incentive to early retirement for certificated employees participating in the State Teachers' Retirement System (STRS), the Governing Board may offer such employees an additional two years of service credit. (Education Code 22714, 44929) Before taking formal action to approve this service incentive, the Governing Board shall determine that encouraging early retirement would be in the best interest of the district due to the curtailment of services or changes in the manner in which services are performed and that the retirement will result in a net savings to the district. The Governing Board shall demonstrate and certify to the County Superintendent of Schools that the formal action taken would result in a net savings to the district. (Education Code 22714, 44929) The Governing Board may also consider the impact of the early retirement option on the staffing needs of district schools. To be eligible for the two years of service credit option, the employee must have five or more years of service credit and must retire during a period of 60 to 120 days after the Governing Board takes formal action to implement the option. (Education Code 22714) In providing the early retirement option, the district shall meet all conditions as specified in Education Code 22714 and 44929.