2005 Idaho Code - 33-1004G — EARLY RETIREMENT INCENTIVE -- ADMINISTRATIVE STAFF EXCLUDED

                                  TITLE  33
                                  EDUCATION
                                  CHAPTER 10
                            FOUNDATION PROGRAM --
                          STATE AID -- APPORTIONMENT
    33-1004G.  EARLY RETIREMENT INCENTIVE -- ADMINISTRATIVE STAFF EXCLUDED.
(1) Except as provided in subsection (8) of this section, each certificated
employee of an Idaho public school district as defined in section 33-1001(16),
Idaho Code, is eligible for an early retirement incentive, provided they meet
the following criteria:
    (a)  The employee has completed a minimum of ten (10) years of continuous
    full-time certified employment, which may include time spent on a
    sabbatical leave, in Idaho public school districts at the time of
    application.
    (b)  The employee is not eligible for unreduced service, early or
    disability retirement from the public employee retirement system of Idaho
    at the time of application.
    (c)  The employee is fifty-five (55) years old before September 1 of the
    year the application is made; provided that persons turning fifty-six (56)
    years old or greater between August 15 and 31, 2000, will be eligible to
    receive the retirement incentive option percentage provided in this
    section that reflects their age on August 15, 2000.
    (d)  The employee submits his/her application to the state superintendent
    of public instruction on or before April 1 of the  year of application.
    (e)  The employee is contracted with an Idaho public school district for
    the entire school year  during the year of application and has not been
    terminated or on a leave  of absence for the current or upcoming school
    year.
    (2)  (a) Full-time qualifying applicants shall receive as a one (1) time
    incentive the following amount of the  employee's qualifying salary
    allocation as provided in section 33-1004E, Idaho Code:
    at 55 years of age            55% of allocation
    at 56 years of age            50% of allocation
    at 57 years of age            45% of allocation
    at 58 years of age            40% of allocation
    at 59 years of age            30% of allocation
    at 60 years of age            30% of allocation
    at 61 years of age            20% of allocation
    at 62 years of age            20% of allocation
    at 63 years of age and over    0% of allocation
    (b)  Certified employees working less than full-time in the application
    year will have the incentive payment prorated according to their full-time
    equivalent (FTE) percentage.
    (c)  Incentive payments for certified employees not placed on the
    experience and education multiplier table as provided in section 33-1004A,
    Idaho Code, will be calculated using the BA column of the table.
    (3)  Incentives and the employer's share of FICA benefits shall be paid by
the state department of education to the Idaho public school district with
which the applicant was last contracted on or before July 31 of the year of
application and acceptance.
    (4)  Incentives shall be considered additional compensation  flowing from
the employment relationship and subject to federal and state tax laws.
Incentives shall not be considered salary for purposes of the public employee
retirement system.
    (5)  Any employee receiving an early retirement incentive as provided in
this section shall not be eligible for future employment with an Idaho school
district where such employment would again qualify him/her for participation
in the state retirement system.
    (6)  Any applicant choosing to withdraw their application must notify the
state superintendent of public instruction in writing no later than June 20 in
the year of application.
    (7)  A special application of the early retirement incentive shall
supersede the limitations of this section to the extent necessary to comply
with this subsection. An otherwise qualified certificated employee who becomes
medically unable to work prior to July 1 of any year shall be eligible to
apply for the early retirement incentive for which the employee would have
been eligible retroactive to April 1.
    (8)  Administrative staff shall not be allowed to participate in the early
retirement incentive program as provided in this section and such staff are
hereby excluded from participation in the program.