LEWISTON —
The Lewiston-Porter school board unanimously approved a teachers union retirement incentive Tuesday night which is expected to bring long-term savings to the district.
The incentive will be available to teachers who have 25 years of service and are 55 years of age or older. The incentive requires at least nine teachers to submit letters of retirement to the district by April 9. Superintendent R. Christopher Roser said if nine teachers don’t accept the incentive the agreement reverts back to the old terminology.
Under the new agreement, the district will make a one-time contribution to a 403b account in the retiree’s name that can be used at the discretion of the employee.
Roser said the employee would get the New York state teacher five-year average salary as a lumped sum. He estimated the amount to be about $70,000.
The old incentive required teachers to use the funds for health care only.
“It was exclusively for health care before, now we’re saying we are tired of managing that money we will put into a 403b and if you want to buy health insurance, great that’s your business,” Roser said.
The district has four employees who have confirmed their intentions to retire and Roser said he is optimistic they will get the nine required.
“Can we get five other people, I think so and we are hoping that there are,” he said.
Roser said the incentive is good and bad since often times some of the best teachers in the district are eligible for retirement.
He added that there will be no immediate savings do to the measure, but in the long-term, this will have a positive effect for the district.
“There’s no savings until next year, they have to work until the end of the year and of course there is a retirement incentive to pay here,” Roser said. “That’s an expense.”
Local News
Related Photos
-
Community Banner sig
LEW-PORT: School board approves retirement incentive plan
Nine teachers must agree to measure
- Local News
-
-
Legislation protecting Falls air base units moves forward
The effort to protect jobs at the Niagara Falls Air Reserve Station got a boost from a committee in Washington, D.C. on Thursday.
-
Korean student robbed at gunpoint in Falls
Detectives are investigating the robbery of a 25-year-old woman Wednesday night in front of a motel in the 400 block of Main Street.
-
Davis will not seek Murphy removal
Lawyers for accused killer Matthew “Bones” Davis say their client will not ask to have Niagara County Court Judge Matthew J. Murphy III removed from his case.
-
Labor group laments economic development efforts
Economic development in New York state has become a joke to some in the area. And many of them are demanding changes to a process which spends approximately $3 billion a year.
-
Repaving work on Old Military Road rises to $790K
Sometimes a change is good. Sometimes a change is bad. For the Town of Lewiston, a change can be pretty costly.
-
Fifth-grader presents list of 400 names asking for new playground
A 10-year-old boy carrying a petition containing more than 400 signatures asked members of the Niagara Falls School Board on Thursday to consider building a new playground at his school.
-
Bomb threat leads to arrest at NT school
A North Tonawanda teen was arrested Thursday morning for sending a one-sentence bomb threat to the computer of a fellow high school student, resulting in a brief lockdown of the school.
- Sense of resignation on AES pact
-
Marching to the new veterans memorial
It's the unofficial beginning of summer.
Memorial Day may mean cookouts with hot dogs and hamburgers, a trip on the river in a boat or simply a day off from work Monday.
-
Fugitive in meth case caught
Moments after Falls police narcotics detectives and U.S. Drug Enforcement Administration agents uncovered a clandestine meth lab in the city's Echota neightborhood, their prime suspect sent a cryptic text message to Detective Joe Palmero.
- More Local News Headlines
-
NJ Man Charged With Murder in Death of Patz
Support, Fun for Kids of Fallen Soldiers at Camp
Fugitive Penguin Caught, Returned to Aquarium
50 Years Later, Underground Fire Still Burning
Light Show Transforms Sydney Opera House
Raw Video: Unruly Passenger Restrained in Miami
Raw Video: Robber Uses Drive-thru Window
Raw Video: Dragon Arrives at Space Station
Calif.'s Coronado Named Nation's Best Beach
CEO Salaries Become Sore Issue in Labor Disputes
Raw Video: Fight Erupts in Ukrainian Parliament
Texan Ranchers Remain Wary of Drought
Raw Video: Soldiers Plant Flags at Arlington
Police: Man Arrested in Etan Patz Disappearance
NYC Protests: the Revolution Will Be Scripted
Chicago U.S. Attorney Fitzgerald Resigns
Neighbors of Etan Patz's Suspect: It's Shocking
Gulf Fishermen Reel From Seafood Troubles
Stuntman Makes Skydive Without Parachute in UK
Raw Video: Bride Who Faked Cancer Released
