TEACHERS TAKE EARLY RETIREMENT 31 TOP-SCALE VETERANS OPT FOR SCHOOL DISTRICT'S OFFER.Byline: Angie ANGIE Adaptive Network for Granular Information and Evidence Processing Valencia-Martinez Staff Writer SIMI VALLEY Simi Valley (sē`mē, sĭm`ē), city (1990 pop. 100,217), Ventura co., SW Calif. in an oil, fruit, and farm region; laid out 1887, inc. 1969. - Thirty-one veteran teachers paid at top scale in the Simi Valley Unified School District A unified school district is a school district which includes both primary school (kindergarten through middle school or junior high) and high school (grades 9-12). In Illinois, these districts are called unit school districts. have accepted a midyear mid·year n. 1. The middle of the calendar or academic year. 2. a. An examination given in the middle of a school year. b. midyears A series of such examinations. early retirement offer. Two administrators are also among the employees who opted to take the deal, said Cary Dritz, assistant superintendent Assistant Superintendent, or Assistant Superintendent of Police (ASP), was a rank used by police forces in the British Empire. It was usually the lowest rank that could be held by a European officer, most of whom joined the police at this rank. of personnel services. The buyout Buyout The purchase of a company or a controlling interest of a corporation's shares. Notes: A leveraged buyout is accomplished with borrowed money or by issuing more stock. will save the cash-strapped, 29-school district about $775,000, in part because the district can hire novice, lower paid teachers. The retiring teachers will teach the rest of the year on contract. ``We were the ones who pushed for it because the district will save about $25,000 per person next year,'' said Arleigh Kidd, president of the teachers union. ``We have been in a tough financial situation. This will help not to have to make more cuts to the district budget. ``These are people who were ready to retire.'' Now, the district can begin recruiting to hire new teachers for about $40,000 per year. Teachers with more than 20 years of experience earn roughly $70,000 annually. The average age of Simi SIMI Sea Ice Mechanics Initiative SIMI Search for Intelligent Monkeys on the Internet SIMI Students Islamic Movement in India SIMI Society of Irish Motor Industry SIMI Smallholder Irrigation Markets Initiative teachers is 50. The incentive plan included a $525 a month contribution toward medical coverage beginning in July. The standard had been $200 until age 65. And since the teachers are officially retired at the end of this month, they can begin receiving their pensions on top of their pay. Dritz said it was not yet decided whether all the positions would be refilled for the next school year. ``If we continue to have declining enrollment it will help us,'' he said. ``It does provide some cost savings and we won't have to layoff Layoff 1. When a company eliminates jobs regardless of how good the employees' performance. 2. A risk reduction, made by investment bankers, that minimizes the potential downside associated with a commitment to purchase and sell a stock issue unsubscribed by stockholders holding teachers.'' The plan was made available to teachers and administrators who are 55 and older, have reached the fifth and final step on the salary schedule, and have been with the district for a minimum of 22 years. Of the 1,000 teachers in the district, roughly 100 teachers were eligible for the plan, Kidd said. The deadline for signing up for early retirement was Dec. 17. Twenty-five teachers took buyouts last year to net a savings of $500,000 for district in the current school year and help balance Simi Valley schools' $143 million budget. Before that, the last time the district offered an early retirement incentive was in the 1997-98 school year. The school board of the Simi Valley Unified School District is expected to approve the retirements next week. Angie Valencia-Martinez, (805) 583-7604 angie.valencia(at)dailynews.com |
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