Retirement is a very personal issue and each case is different.
Just a reminder that teachers who are first eligible and wish to retire at the end of this school year must submit notification in writing to the District by Thursday, December 1st in order to receive payment for unused sick leave as stipulated in the contract language noted below:
ARTICLE 32. RETIREMENT BENEFITS:
A. A teacher who, in writing, notifies the District by December 1st, of the school year of first eligibility of his/her intention to retire will receive payment for unused sick leave at the rate of one (1) day's pay (determined by the teacher's position on the salary schedule) for three (3) days of accumulated sick leave to a maximum of eighty (80) day's pay, provided the teacher remains until the end of that school year. This payment will be made as an Employer Non-elective contribution to the 403(b) account of each covered employee in accordance with the terms and conditions of this agreement as specified in Appendix ”H”.
The HTA does not have or maintain any information regarding an individual’s Tier status or first eligibility status. Eligibility is determined by your tier, age and years of service. If you believe this is your year of “first eligibility” contact the New York State Teachers' Retirement System (NYSTRS). Your ID # and Tier are listed on each pay stub. Tier and first eligibility requirements are listed on your yearly TRS statement which is mailed to your home in late November. If you have not received this year's statement then you may refer to last year's statement as it contains all pertinent information. This information can also be obtained by calling NYSTRS (800) 348-7298 (Mon. to Fri. 8:30 a.m. to 4:15 p.m.) or at their website: NYSTRS.org
Retirement health insurance contribution rates for teachers are those in effect at the time of the employee’s retirement.
- 2016-2017: 23%
Any teacher retiring and not first eligible can retire at anytime. It is advisable to submit paperwork by the Spring so that retirement payments are not delayed.
Non teaching members, School Related Professionals (SRPs), do not have this December 1st deadline.