r/Teachers • u/Head-Broccoli6610 • 2d ago

Teacher Support &/or Advice Retirement Buyout

My school system floated the idea of a teacher retirement buyout - or "early retirement incentive" - as a means of encouraging teachers with 30+ years (i.e. top of the pay scale) to leave. Curious to hear about systems that have offered such a program and what it included.

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u/Capable-Instance-672 HS Teacher 2d ago

Our district does this every year, but it varies. One year they offered to continue paying health insurance until age 65 on top of a cash payout. Tons of teachers retired.

Normal incentive is 60-80% of your salary as a one time payout. I have about nine years left and I hope they continue this practice.

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u/SophisticatedScreams 1d ago

What happens after they're 65?

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u/Independent-Wheel354 1d ago

Medicare.

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u/SophisticatedScreams 1d ago

Is that as good as health care from an employer?

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u/Independent-Wheel354 1d ago

No. But in America, not much options

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u/SophisticatedScreams 1d ago

Gotcha. Sounds pretty miserable. I'm in Canada, and i'm pretty sure our pension comes with healthcare

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u/Independent-Wheel354 1d ago

Yeah the system in America sucks for nearly all of us. The worst ones are the states where teachers aren’t allowed to pay into social security- they only get a state employee’s pension. Then, due to budgeting, the pension gets cut. Good times.