If you are participating in the Voluntary Early Retirement Plan (Bridge Program), you need to be aware of what is happening to this benefit. The intent of this program was to encourage long time employees to retire, opening their position to someone with less experience and therefore less pay. It is being changed to require retirees to work for 30 days for 10 month employees, 33 for 11 month employees, and 36 for 12 month employees. This is only for the upcoming school year. It will stop completely after June 30, 2014. At which time, all payments from this program to the retirees from Stafford County will cease. I am highlighting some of the information found on the county website and also enclosing the entire document as attachments.
On Thursday, March 8th, the School Board’s agenda included an item which stated: **AMENDED: Approve a Resolution to Repeal the Voluntary Early Retirement Plan (“Bridge Program*) and Adopt the Voluntary Retiree Extended Work Program (Proposed New Policy 4702 and Regulation 4702.
The Agenda Item Details are attached (img 057 and img 058). This documents states:
The participants will continue to be eligible to receive annual benefits payments for
one (1) year in exchange for working the required number of days under the Voluntary Retiree
Extended Work Program.
New Participants applying by May 1, 2013 will be eligible to receive only one (1) YEAR OF annual
Benefit payments in exchange for working the required number of days under the Voluntary
Retiree Extended Work Program.
Looking under Human Resources Services on the website, the VOLUNTARY RETIREE EXTENDED WORK PROGRAM 4702 (attached item img 059 )is described as:
A Voluntary Retiree Extended Work Program of limited duration may be provided to qualifying
employees who retired from full –time employment on or before July 1, 2013. This Program is
offered at the discretion of the board. The superintendent/Designee shall promulgate
regulations to implement any plans authorized by this policy.
Attached img 060 and img061 is the Resolution to repeal the voluntary Early Retirement Incentive Plan (*Bridge Program) and adopt the Voluntary Retiree Extended work Program.
Also found on the website and attached are img 062, img 063, img 065. This is Policy 4702 – Voluntary Retiree Extended Work Program. The items highlighted on their document are:
And……Since this had not been made public, there were not many people at the meeting to speak on behalf of the retirees who will be adversely affected by having this money taken away from monthly incomes.
Thanks to the three who spoke against this change, the School Board scheduled a question and answer session regarding this change. The meeting will be on Thursday, March 21, at 7:00 pm at the School Board Office.
When I retired, I received a letter signed by Rick L. Fitzgerald, Executive Director of Human Resources, verifying my approved participation in the Bridge Program. This letter explains all of the benefits of the program…” twelve monthly installments a sum equal to ten percent (10%) of your final annual contracted salary”. It explains deductions for taxes and payment of a portion of the health insurance premiums above and beyond what the Virginia Retirement System pays. It also states in bold letters, “as noted on the application for the Voluntary Early Retirement Incentive Plan, participation in the plan shall terminate upon: the participant having participated in the plan seven(7) years (2555 days), obtaining his/her 65th birthday, or receiving Social Security benefits”.
Many of us will be adversely affected by the withdrawal of this promised benefit.
If you are affected by this, please contact the school board members and plan to attend this meeting (March 21, 7:00pm). Also, if you know of anyone else who is affected by this please pass this along to them.