Ahhhh…. Retirement!. But which road to chose?. 110 A 1 year advance planning. PERA All The Way “Go when ready…”. 110 B 2 years advance planning. What is a 110?. PERA currently allows retired employees to work 110 days in a calendar year.
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110 A 1 year advance planning
PERA All The Way “Go when ready…”
110 B 2 years advance planning
District 6 has two different 110 plans.
You DO make a lot more money for one year
But, the “110” year does not count toward your PERA service credit. This reduces your retirement benefit by 2.5 for life.
It’s important to understand the options to make the best decision for YOU.
Requests are due to H.R. by MARCH 1st.
Assuming your most recent evaluation was satisfactory, you may be accepted, and notification will be sent to you by March 15th.
You must confirm intent to retire April 1..
(HR date stamp is essential)
Officially retire at the end of this school year.
Begin collecting PERA this June 30th.
District insurance runs until August 31st.
Work next year as a “110-er”
Starting in September, you may purchase COBRA insurance if you wish.
- Retired membership does not cover 110-ers; (gold)
- However, the year will not count toward your PERA service.
*You’ll have 10 days leave for any purpose (bereavement, discretionary, sick…)*No access to Sick Leave Bank or Donated Days *You may sell back unused days at 35% of sub pay
*You will receive your step advancement and may request
Horizontal Advancement, contract permitting
Start retirement off with a financial bang!
Collect your PERA and your salary.
Only 1 year’s advance notice required.
Uncle Sam gets a big chunk!
This year does NOT
count for PERA
No provision if you
need more than
10 days leave or
are unable to
complete the year.
an additional 10% of your salary for this service.
-start collecting PERA the following June 2011.
No access to Sick Leave Bank or Donated Days.
You may sell back unused days at 35% of sub pay.
Your decision must be made almost 2 years before you plan to walk out the door.
Uncle Sam gets a big chunk.
Your double-dip year does NOT count for PERA service credit.
No provision if you need more than 10 days leave or are unable to complete the year.
No early decision required
Work as a regular PERA employee until you leave the district.
No district benefit.
Notify PERA and District 6
3rd to last year
2nd to last year
2009-10 or any yearRegular PERA Service all the way. Retire in May.
2009-10 (March 2, 2010)Last PERA year. Request 110A by March 1st, 2010. Retire in May, 2010.
2010-11Return as 110-er. Collect PERA and your salary.
2010 Request 110B no later than June 15th, 2010
2010-11In August 2010, work the New Teacher in-service for 10% of your salary. Last PERA year. Retire in May, 2011.
Return as 110-er. Collect PERA and 90% of your salary.
With any of the options, you are still able to “sell back” your unused sick and discretionary leave at 35% of the sub pay. For 20+ years, all days are reimbursed. For less than 20 years in D6, you must have 45 days to receive the 35% payout. Request the pay out when you apply for or notify about retirement. Expect a separate check in August following your PERA year. Re-request for pay out of remaining days after your 110 year.
There are many factors to consider:
“B” stands for “Best.”
from Finance and HR
meet the deadlines
Our retirement plans are part of the negotiated agreement between GEA and the District,
and as such, subject to change.
Legislation impacting PERA can also impact our agreement or your benefits. Please stay current on PERA political and financial issues.
“break in service” before you can work for any PERA entity.
- Don’t work for a PERA entity in the summer following retirement
any PERA entity (i.e. a school district)
- If you choose one of the District’s 110 plans, those days count!
- There is penalty if you exceed the allowed days
District 6 currently hires some retirees at .47 (for half time)
PERA allows 220 days per year at half-time or less
Tell your principal you are available and contact HR
NO BENEFITS; NO LEAVE
Join GEA as part-time member if you choose
You may be a substitute
Do not exceed 110 days in a calendar year
(retired substitutes receive $85.00/day compared to $80.00 regular sub pay)
You may work for a NON-PERA entity without restriction
Get every document date-stamped in HR
- Both the District and GEA celebrate your
dedicated service to public education.
- GEA members:
TUESDAY, May 4 is the retirement banquet.
Ben Martinez (348-6070)
- Robert Hepperle (348-6115)
Slide show: www.greeleyea.org (white
PERA Chart (pink)
Intent to retire letter (sample-buff)
Retirement membership (gold)
Contract Language (Salmon)
Offset: Windfall Elimination
Countdown to Retirement (cherry)
401K’s; 403B’s and 457’s
WCRSEA (Glen Hanson) 353-4849
(Weld County Retired Employees Association)