11:35am

Fri January 29, 2010
WVAS Local

RSA tells school board to tweak teacher retirement

Montgomery, AL – - The Retirement Systems of Alabama is
suggesting changes to the department of education's proposal to
tweak retirement benefits for teachers.
RSA administrator Marc Reynolds spoke at the State Board of
Education's K-12 work session Thursday.
A department proposal to save money long-term calls for
requiring new teachers to have 30 years of experience to retire, up
from 25 years.
Employees can also retire at age 60 with a minimum of 10 years
experience.
Reynolds suggested making that the lone eligibility requirement
both for retirement and the Deferred Retirement Option Plan, or
DROP.
He said that way everyone retiring will be close to age 65, the
age when the federal government pays most of health insurance costs
instead of the state.