Decorah School Board approves early retirement package

On Monday night the Decorah Community School Board approved an early retirement package for certified staff. The package will be offered to eligible staff (those over 55 by August 15, 2014, whose age plus years of district service is at least 80). Staff will need to respond by January 6 in order to participate.

The package is nearly identical to the last one offered five years ago, and will include one half of the employee's salary spread out over a three year period, and up to eight years  (capped at age 65) of a fixed insurance benefit that will be defined later.

Depending on how many eligible employees participate the district could save significant money, possibly over $700,000 in a four year period. Many of the eligible teachers were also eligible, but declined the offer, the last time the package was offered.