Table of Contents
| Status | Adopted |
| Original Adopted Date | 03/23/2000 |
| Last Revised Date | 11/18/2013 |
| Last Reviewed Date | 11/18/2013 |
GCPCB: Professional Staff Retirement Gratuity
If any teacher or administrator employed by School of the Osage elects to retire immediately upon becoming eligible (first year of eligibility) in any of the situations listed below, an early retirement incentive will be paid to such teacher or administrator as follows.
If written notification of retirement is received by:
| Teachers | Administrators | ||
|---|---|---|---|
| March 1 | $6,000 incentive | February 1 | $6,000 incentive |
| April 1 | $4,000 incentive | March 1 | $4,000 incentive |
| May 1 | $2,000 incentive | April 1 | $2,000 incentive |
Eligibility
Twenty-Five and Out: This means a teacher or administrator has 25 years of service in Public School Retirement System (PSRS) of Missouri and retires immediately after having attained 25 years of service, and if the provision of “25 and out” provides for “full formula benefits” in PSRS.
Thirty Years of Service: This means a teacher or administrator has 30 years of service in the PSRS and retires immediately after 30 years of service is completed.
Rule of 80: This means if a teacher or administrator has enough years experience plus age to equal 80 in the PSRS and elects to retire immediately upon becoming eligible for this benefit.
In any of the above scenarios, the teacher or administrator must have served School of Osage students a minimum of ten consecutive years.
This is an early retirement incentive and does not apply when a teacher or administrator has accumulated more than 30 years in the PSRS.
If a teacher or administrator completes 30 years of service during the school year, the teacher or administrator may continue through the remainder of the school year and receive the early retirement incentive.
As a condition of receiving the incentive, the teacher or administrator shall sign a waiver of all claims against the district.