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Wednesday, May 4, 2016

Eleven teachers file for retirement index

Friday, November 2, 2007

Friday was the last day the teachers in the Clay Community School Corporation could apply for the retirement index.

Carolyn Kumph, the personnel director for the corporation, said six teachers had already applied and five more applied on Friday.

The retirement index is an additional step on the salary scale that can be applied for two years before retirement.

The step increases salary by 3 percent and increases the corporation's contributions to Teacher Retirement Funds.

There are 13 teachers slated to retire at the end of the 2007-08 school year.

Two of the teachers who applied on Friday for the index are slated to retire at the end of the 2008-09 school year. They are the only teachers scheduled to retire in 2009.

The other nine teachers that applied for the index will retire after the 2009-10 school year.

Teachers are eligible for retirement benefits after 20 years of service to the school corporation.

If a teacher wants to retire before completing 20 years, the teacher's retirement fund is available to those who qualify under the "rule of 85."

The rule applies to those teachers whose age plus years of service is equal to or greater than 85.

Recently, the corporation has cut costs by not replacing teachers who have retired.

"Currently, we have no indication that they will not be replaced," Kumph said when asked about the 13 teachers leaving this year.



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