The Board of Directors of the Cardinal Community School District reserves the right on an annual (or longer term) basis to offer or not offer an early retirement incentive plan for either or both its certified and classified employees. If the Board elects to offer an early retirement incentive plan, it shall approve the terms of that plan at a regular or special meeting of the Board and Administration shall distribute notice of the plan to employees. The duration of any early retirement incentive plan shall be included within the terms of the plan documents.
Eligible employees who will complete their current contract with the District and otherwise qualify under the current terms of any existing Board approved early retirement incentive plan may apply for early retirement in accordance with the plan documents. Applications for early retirement will be considered made when the employee fully completes and submits the early retirement incentive plan application to the Board Secretary no later than the deadline set by the Board in the early retirement incentive plan for the return of the early retirement application. The application must include a statement of the employee’s desire and intent to retire at the conclusion of the then current school year.
Early retirement applications made after the date set by the Board for the return of the early retirement applications may be considered by the Board if special circumstances exist. It is within the discretion of the Board to determine whether special circumstances exist.
Board action approving and employee’s application for early retirement if final and such action constitutes a non-renewal of the employee’s continuing contract with the District for the next school year.
Retired, eligible employees and their spouses who are on the District’s health insurance plan at the time of the eligible employee’s retirement are allowed to continue coverage in the District’s group health insurance program at their own expense by meeting the requirements of the insurer and the school’s insurance plan, until each has qualified for Medicare or attained age 65. If the insurer later discontinues the coverage in the District’s policy, he/she cannot re-enroll.
Additionally, employees who retire under this policy may qualify for retirement benefits through the Iowa Public Employees Retirement System.
This early retirement policy, by itself, or in conjunction with any Board approved early retirement incentive plan, shall not automatically vest any right in any employee, whether or not the employee is currently eligible for early retirement. The Board reserves the right to amend or terminate any previously approved early retirement incentive plan adopted by the Board pursuant to this policy, at any time in the future, with or without notice and shall not be obligated to provide any program to any employee after the date of such amendment or repeal.
Approved July 2000 Reviewed November 2020 Revised