Formula for Implementation. Any full time teacher who has taught a minimum of twenty (20) years, at least 15 consecutive years in the district, may choose a retirement plan based on the following chart: 20 years experience 35% Final Year’s Salary 25 years experience 40% Final Year’s Salary 30 years experience 45% Final Year’s Salary 35 years experience 50% Final Year’s Salary Retirement Plan will be capped so that the teacher’s average final compensation will not exceed 124% of his/her average base pay for the same period, or $31,000 whichever is less.
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