Retirement Benefit Computation a) The number of years of U.S.D. 309 service. (Minimum of 15) multiplied by:
b) The largest primary contract salary (excluding fringe benefits and supplemental salaries) received by the Teacher of U.S.D. 309 within the preceding five years multiplied by: c) 1% for all Teachers ages 55 and up to age 65 during the year of retirement application.
Retirement Benefit Computation. A. The number of years of USD 239 service (minimum of 15) multiplied by:
1. The largest salary at time of application (excluding supplemental salaries) received by the employee of USD 239 within the preceding five years multiplied by:
2. The following applicable factor determined by the age of the employee during the year of retirement application: 1st year 1% 2nd year .8% 3rd year .6% 4th year .4% B. In order to take early retirement without penalty, teachers would need to begin taking early retirement from the district within four (4) years of being eligible for full social security benefits.
Retirement Benefit Computation
