Starpoint offers retirement incentive

Local News

July 20, 2010

By Joe Olenick Lockport Union-Sun & Journal The Lockport Union-Sun %26 Journal Tue Jul 20, 2010, 01:17 AM EDT

PENDLETON — Starpoint is looking for some takers in a new state retirement incentive.

The Board of Education approved a state incentive Monday that would allow people to retire if they are 50 years old and have 10 years in the retirement system by Aug. 31. Part A, which is what the incentive is known as, would give retirees an additional month of credit for each year of service up to a maximum of three years.

The Part A incentive is one of two retirement incentive options created by the state under what is known as Chapter 105. The chapter was signed into law by Gov. David Paterson in June. School districts could choose to participate in one, both or none of the options.

Starpoint chose to participate in both.

The second option, Part B, is a 55/25 retirement incentive, separate from the 55/25 option that was enacted in May. That 55/25 option allows state employees to retire early without penalty if they are 55 years old and have 25 years in their retirement system. Normally, they have to be 55 years old and have 30 years in the system to retire with a full pension.

The difference between the two 55/25 options is districts could choose whether they wanted to participate in the Part B option. Part B also comes without a requirement that the employees hold a position represented by New York State United Teachers. Starpoint approved Part B last month by the June 30 deadline.

Superintendent C. Douglas Whelan said the district, in order to participate, would have to meet a requirement. For each retirement, Starpoint would either have to replace the retiree with a less expensive staffer or the position must be eliminated. The district must show at least a 50 percent savings from all of the affected positions combined. The amount for each position is just the base salary and does not include benefits.

Starpoint would have to find some people who are interested in taking the incentive, as the district has been cutting back positions and probably will not be reducing any more jobs, Whelan said.

“We feel we can’t get any leaner,” he said.

Those who qualify for the incentive must have a retirement date effective between July 1 and Monday. It’s open to those in the state Teacher Retirement System only, because Starpoint can’t eliminate any positions or show 50 percent savings for those in the state Employee Retirement System.

As of Monday, Starpoint had sent letters to more than 40 people who could qualify for the incentive. Only two have expressed interest so far, but that could change, some board members hoped. Others may become interested once the board approves the incentive, members said.

“Some may rethink it,” Board member Rae Amacher said.

In other district news, Starpoint’s policy subcommittee will be meeting at 6 p.m. Monday in the district offices, 4363 Mapleton Road. The committee is currently reviewing all of the district’s policies.

Contact reporter Joe Olenick at 439-9222, ext. 6241.

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