PERSONNEL
490.1
FREE ADMISSION POLICY
A. Each contracted employee of the school district and their guest shall be admitted free to entertainments and activities sponsored by the WACO School District. The employee shares the responsibility for assisting at activities.
B. Board members and members of the WACO Ministerial Association and their guest will also be admitted free.
C. Individuals on the substitute list for positions entitled to free admission and their spouse will be eligible, upon request, for a pass following the tenth day of substitute service.
D. The Superintendent shall issue a pass to each person entitled to it annually.
Adopted 4/9/70
Reviewed 3/15/21
Revised 10/20/08
PERSONNEL
490.2 - EMPLOYEE EARLY RETIREMENT
An early retirement program may be offered at the discretion of the Board of Directors. The policy, when offered, must meet all federal and state guidelines.
LEGAL REF: Iowa Code Sections 97B; 216; 279.46
CROSS REF: 407.3 Retirement
Approved: 1/20/03
Reviewed: 3/15/21
Revised: 11/17/03, 2/21/22
PERSONNEL
490.2E1 - EMPLOYEE EARLY RETIREMENT APPLICATION
EMPLOYEE EARLY RETIREMENT APPLICATION
The undersigned employee is applying for early retirement pursuant to Board Policy 490.2. Please complete the following information:
_________________________________________ ______________________
Full Legal Name Social Security Number
_________________________________ _____________ _________________
Current Job Title Date of Birth Years of Service
Please designate which option you choose:
_________Option 1: (CASH) The district will pay the retiree a monthly payment beginning the first month of retirement and continuing to a maximum of 120 months. Such payment shall be in an amount equal to 0.010 times the annual salary received by the retiree during the fiscal year immediately preceding retirement. “Annual salary” refers to compensation that the retiree received under the Master Contract between the WACO Community Schools, the WACO Education Association and the WACO Education Support Association, the annual salary for administrators, and the annual salary for nonunion non-certified staff. It excludes all supplemental pay, extra-duty pay and extended contract pay.
__________ Option 2 (Board Benefit) The retiree may receive the Board Benefits for a maximum of 120 months and continue in the district’s group health insurance (including dental and vision) covering the employee at the time of their retirement through the month in which the retiree attains 65 years of age. The benefits under such plan and the types of coverage to be provided to retiree shall be identical to the benefits and type of coverage in effect from year to year for employees. The employee may elect to continue family coverage at his or her expense if enrolled. Employment elsewhere resulting in the retiree being eligible to receive health, dental and vision benefits will void this option.
The undersigned employee acknowledges that application and participation in the early retirement plan is entirely voluntary.
The undersigned employee acknowledges that the school district suggests that the employee contact legal counsel and the employee’s own personal accountant regarding participation in the early retirement program and taxation of benefits.
Please attach a letter of resignation effective June thirtieth of the year in which the undersigned employee intends to retire.
________________________________________ ________________
Employees Signature Date
_________________________________________ _________________
Witness Signature Date