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Show APRIL 25, 2001 “WASATCH GOUNTY COURIER ‘RECESS retire to obtain access to: retirement benefits to pay for bills such as their children’s college tuition. Talbot and members of the Wasatch School Board funds are finite, and if a member utilizes some of their retirement savings — it just reduces the total amount availHowever, it appears this is not quite accurate. The early withdrawal does not effect the amount of funding sy available, according to a state retire-_ ment specialist. | | “There is no reduction in long- _ incentive, but a lot of people are doing it because of the fact they can collect retirement then go back to work on ~ salary.” The post-retirement guidelines ‘state if an employee returns to work for the same employer within a six _ month period, they must work less than 20 hours per week and their salary must not exceed $10,680 for ~~ that period if they are less than 65 . years. of age. If the pay exceeds this i ‘ A amount, i 4 i4 4; : # retirement benefit is ! : <r their o reduced by 25 percent. ‘Wasatch County School Board ~ member Betty Smedley said the pay during Talbot’s current six-month retirement exceeds the $10,680 limit. ‘She said she was not informed of be. released. tors remain in the school district. I was offered a job out of state and am ~ and able to stay where I really want to stay and work in Wasatch County because of this,” Talbot said. He has experience and it benefits the district. I feel the same way about our superin- been a teacher, principal and coun- “He can work full-time and make full salary and still be collecting retirement for the rest of— his life.” JUDY LUND ~ Utah Retirement Office - tendent,” Smedley said. “We've really enjoyed working with him and things he’s brought about to our district. In the past they weren’t allowed to stay in their own district once they retired.” New board member Robert Salazar agrees. “Several teachers are taking © advantage of the same opportunity. It’s a good thing for those that have been here that long. They only receive part of their salary,” Salazar said. “I don’t know the state’s reasoning. I just know there is a window of opportunity for some people and some are choosing to take it and some are not.” | selor at many Salt Lake valley schools. “In the fall, ’m making the same amount of money as I am now. It allows me free time to research curriculum projects I probably wouldn’t be able to get to working full” time.” “We'll have very ecient seach: ers on the program next year who told me they'd retire and move to another state or district if they didn’t have this program, ” Talbot said. “The truth is, were able to keep some of ic best people in our district.” Lund said there is no aaeen on the retirement program if the employee returns full-time after the six- month period. She said retirement benefits are calculated based on years of experience and salary. The time period calculated ends at the date they begin the retirement, even if it is short-term. : _ Lund also said a post-retirement employee who returns to work receives the same amount of funding—on top of salary—as if they “didn't work and went fishing.” _ “We are setting them up for retirement and payment i is paid for their lifetime,” Lund said. “Can work full-time and make full salary and still be colee retirement for the rest of his - Talbot said four feactiees and a principal have begun the application © process for the post-retirement pro- : z gram, but since the process is ongoing © life.” Bas a Initially, Smedley had thought it wouldn't “cost taxpayers | _ more because he gets retirement, but it- “comes from what he’s putiin. ” But now, she’s not so sure. “This is really interesting. I need to put a call into the state to make sure we have an appropriate ‘salary. I’m glad you brought that up. I need to look into that,” Smedley said. “He’s getting half his salary (during the six-month period). We'll meet probably in. Me to discuss salary.” Regardless of the ae S unique “I don’t know the state’s reasoning. I just know © there is a window of "opportunity for some people and some are choosing to take it and some are not.” ROBERT SALAZAR School Board Member retirement system, Smedley said the — district needs to keep good employees. Talbot, who recently began the pro-. gram, has no plans to really ae soon. _ “I'm very excited about ce in education and working for the dis- trict,” said the experienced and jovial superintendent. “As long as enthusi- asm is there and I feel I can make contribution, I'll continue.” a rt ie | these, Particulars, and’ will reevaluate not vital good administrators and instruc-. _ term retirement. Unlike 401Ks, it does “not lessen the retirement account,” _said Judy Lund of the Utah Retirement Office. “Tt is the same thing as if someone is not planning on going back to work. I don’t know if it’s necessarily an could Employees of any state department can elect to take part in the program if they meet the qualifications. “I happened to address the teacher and administrative shortage. “They've got the expertise __ Said it is their understanding that the able years later. names the situation and discuss details with | other board members and state officials. - While Smedley is aeiecincd about the over-payment, she said it is CONTINUED FROM A1 , AS a ities ~ yy em re wen ry nr "mre mr — Ph nn oats om Sea ti el aes em 1 | | —— eg emer : ] 3 7 es Sree a ( necineaarelin oo aSpafiene agnee eet Rune |S | | vem oe — $335,000 |