SCS To Teachers: Tell Us You’re Retiring And You’ll Get A ‘Monetary Incentive’
(Shelby County) Shelby County teachers eligible for retirement have received notice from the school system offering an incentive “provide early notification of their intent to retire effective the end of the 2013-14 school year.”
The district hopes to get early notification from as many teachers as possible so they can fill the vacancies.
One incentive is a $600 bonus. To qualify, teachers cannot use any sick days between April 7th and the end of the school year.
To be eligible for retirement through the Tennessee Consolidated Retirement System (TCRS), you must meet the following requirements:
- Full retirement: 30 years of service or 60 years-old with 5 years of service (vested)
- Early retirement: 55 years old with 5 years of service (vested) or 25 – 29 years of service
- To check your eligibility for the Tennessee Consolidated Retirement System, please contact 1-800-770-8277 or 1-615-741-1971
Any teacher who submits their official notification of retirement prior to April 25 is eligible for incentives up to $600. Please see the following eligibility requirements:
- Retirement date must be effective at the end of the 2013-2014 school year and teachers who have already submitted their official notification of retirement are eligible for this incentive and do not have to resubmit paperwork.
- If a teacher does not use any sick days between April 7 and the last day of school, he/she will be paid $60 per unused sick day for up to ten (10) days for a maximum incentive of $600. *This does not apply to employees on an approved FMLA leave.
- If a teacher has less than 10 available sick days on April 7, he/she is still eligible to be paid $60 per available sick day.
NOTE: Sick days which count for this incentive can still be used toward overall retirement service credit; however, the use of one sick day between April 7 and the last day of school disqualifies a teacher from this incentive.