1. 2/29/2008 Early Retirement Incentive What is it? I.C. 33-1004G  One-time lump sum payment  Agree not to come back to work for an Idaho public school district where you would be eligible to participate in PERSI. you would be eligible to participate in PERSI.

2. 2/29/2008 Early Retirement Incentive What is it? I.C. 33-1004G  One-time lump sum payment  Agree not to come back to work for an Idaho public school district where you would be eligible to participate in PERSI. you would be eligible to participate in PERSI.

3. 2/29/2008 Early Retirement Incentive What is it? I.C. 33-1004G  One-time lump sum payment  Agree not to come back to work for an Idaho public school district where individual would be eligible to participate in PERSI.

4. 2/29/2008 Early Retirement Incentive What is it? I.C. 33-1004G  One-time lump sum payment  Agree not to come back to work for an Idaho public school district where individual would be eligible to participate in PERSI. Caution – I.C. 33-1004H “Employing Retired Teachers and Administrators” Does not apply to those individuals Receive benefits under the early Retirement program provided in I.C. 33-1004G

5. 2/29/2008 Who Qualifies? Contracted with an Idaho public school FY 2007- 2008 Contracted with an Idaho public school FY 2007- 2008 Working in a “Instructional” certificated position Working in a “Instructional” certificated position Administrator positions are not eligible Administrator positions are not eligible Will complete 2007-2008 Contract Will complete 2007-2008 Contract Eligible to be offered a contract FY 2008-2009 Eligible to be offered a contract FY 2008-2009 Between age 55 and 62 before 9/1/2008 Between age 55 and 62 before 9/1/2008 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Have not met the “Rule of 90” on 4/1/2008 Have not met the “Rule of 90” on 4/1/2008

6. 2/29/2008 Who Qualifies? Contracted with an Idaho public school FY 2007-2008 Contracted with an Idaho public school FY 2007-2008 Working in a “Instructional” certificated position Working in a “Instructional” certificated position Administrator positions are not eligible Administrator positions are not eligible Will complete 2007-2008 Contract Will complete 2007-2008 Contract Eligible to be offered a contract FY 2008-2009 Eligible to be offered a contract FY 2008-2009 Between age 55 and 62 before 9/1/2008 Between age 55 and 62 before 9/1/2008 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Have not met the “Rule of 90” on 4/1/2008 Have not met the “Rule of 90” on 4/1/2008

7. 2/29/2008 Who Qualifies? Contracted with an Idaho public school FY 2007-2008 Contracted with an Idaho public school FY 2007-2008 Working in a “Instructional” certificated position Working in a “Instructional” certificated position Administrator positions are not eligible Administrator positions are not eligible Will complete 2007-2008 Contract Will complete 2007-2008 Contract Eligible to be offered a contract FY 2008-2009 Eligible to be offered a contract FY 2008-2009 Between age 55 and 62 before 9/1/2008 Between age 55 and 62 before 9/1/2008 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Have not met the “Rule of 90” on 4/1/2008 Have not met the “Rule of 90” on 4/1/2008

8. 2/29/2008 Who Qualifies? Contracted with an Idaho public school FY 2007-2008 Contracted with an Idaho public school FY 2007-2008 Working in a “Instructional” certificated position Working in a “Instructional” certificated position Administrator positions are not eligible Administrator positions are not eligible Will complete 2007-2008 Contract Will complete 2007-2008 Contract Eligible to be offered a contract FY 2008-2009 Eligible to be offered a contract FY 2008-2009 Between age 55 and 62 before 9/1/2008 Between age 55 and 62 before 9/1/2008 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Have not met the “Rule of 90” on 4/1/2008 Have not met the “Rule of 90” on 4/1/2008

9. 2/29/2008 Who Qualifies? Contracted with an Idaho public school FY 2007-2008 Contracted with an Idaho public school FY 2007-2008 Working in a “Instructional” certificated position Working in a “Instructional” certificated position Administrator positions are not eligible Administrator positions are not eligible Will complete 2007-2008 Contract Will complete 2007-2008 Contract Eligible to be offered a contract Eligible to be offered a contract FY 2008-2009 Between age 55 and 62 before 9/1/2008 Between age 55 and 62 before 9/1/2008 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Have not met the “Rule of 90” on 4/1/2008 Have not met the “Rule of 90” on 4/1/2008

10. 2/29/2008 Who Qualifies? Contracted with an Idaho public school FY 2007-2008 Contracted with an Idaho public school FY 2007-2008 Working in a “Instructional” certificated position Working in a “Instructional” certificated position Administrator positions are not eligible Administrator positions are not eligible Will complete 2007-2008 Contract Will complete 2007-2008 Contract Eligible to be offered a contract FY 2008-2009 Eligible to be offered a contract FY 2008-2009 Between age 55 and 62 before 9/1/2008 Between age 55 and 62 before 9/1/2008 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Have not met the “Rule of 90” on 4/1/2008 Have not met the “Rule of 90” on 4/1/2008

11. 2/29/2008 Who Qualifies? Contracted with an Idaho public school FY 2007-2008 Contracted with an Idaho public school FY 2007-2008 Working in a “Instructional” certificated position Working in a “Instructional” certificated position Administrator positions are not eligible Administrator positions are not eligible Will complete 2007-2008 Contract Will complete 2007-2008 Contract Eligible to be offered a contract FY 2008-2009 Eligible to be offered a contract FY 2008-2009 Between age 55 and 62 before 9/1/2008 Between age 55 and 62 before 9/1/2008 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 09/01/2007 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 09/01/2007 Have not met the “Rule of 90” on 4/1/2008 Have not met the “Rule of 90” on 4/1/2008

12. 2/29/2008 Who Qualifies? Contracted with an Idaho public school FY 2007-2008 Contracted with an Idaho public school FY 2007-2008 Working in a “Instructional” certificated position Working in a “Instructional” certificated position Administrator positions are not eligible Administrator positions are not eligible Will complete 2007-2008 Contract Will complete 2007-2008 Contract Eligible to be offered a contract FY 2008-2009 Eligible to be offered a contract FY 2008-2009 Between age 55 and 62 before 9/1/2008 Between age 55 and 62 before 9/1/2008 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Completed 10 continuous full-time years with an Idaho public school in a certified position prior to 9/1/2007 Have not met the “Rule of 90” on 04/01/2008 Have not met the “Rule of 90” on 04/01/2008

13. 2/29/2008 How is the Payment Calculated? Based on how the state would reimburse the school district for that individual’s position Based on how the state would reimburse the school district for that individual’s position Based on individuals Based on individuals personal information personal information Based on IBEDS data submitted to SDE (fall 2007) by the school district/charter Based on IBEDS data submitted to SDE (fall 2007) by the school district/charter

14. 2/29/2008 How is the Payment Calculated? Based on how the state would reimburse the school district for that individuals position Based on how the state would reimburse the school district for that individuals position Based on individuals personal information Based on individuals personal information Based on data submitted to the State Department of Education on 9/28/2007 by the school district Based on data submitted to the State Department of Education on 9/28/2007 by the school district Base Salary (I.C. 33-1004E) Base Salary (I.C. 33-1004E) times Index (I.C. 33-1004A) times Index (I.C. 33-1004A) times % according to age (I.C. 33-1004G) prorated if not working full time in a times % according to age (I.C. 33-1004G) prorated if not working full time in a certificated instructional position certificated instructional position

15. 2/29/2008 What Are Base Salaries FY 2007-2008? ä Instructional - $24,623 Per I.C. 33-1004E Per I.C. 33-1004E

16. 2/29/2008 How are Indexes Calculated? Eligible staff are placed on the Experience & Education Multiplier Table based on the following: Eligible staff are placed on the Experience & Education Multiplier Table based on the following:  Years completed  Degree claimed  Additional college transcript credits õ earned beyond the degree reported AND initial certification õ initial certification - issue date of the certificate õ reported in semester credit hours only õ do not report in-service credits in this section (I.C. 33-1004A) (I.C. 33-1004A)

17. 2/29/2008 Experience and Education Multiplier “Each instructional … staff position shall be assigned an appropriate multiplier based on the following table:”

18. 2/29/2008 Experience Factor “In determining the experience factor, the actual years of teaching … service in an accredited public school or in an accredited private or parochial school shall be credited.” “In determining the experience factor, the actual years of teaching … service in an accredited public school or in an accredited private or parochial school shall be credited.”

19. 2/29/2008 Education Factor “In determining the education factor, only credits earned after initial certification, based upon a transcript on file with the teacher certification office of the state department of education, earned at an institution of higher education accredited by the state board of education or a regional accrediting association, shall be allowed...”

20. 2/29/2008 What is the Percentage Based on My Age? Measured on 9/1/2008 (I.C. 33-1004G) Measured on 9/1/2008 (I.C. 33-1004G)  Age 55 = 55%  Age 56 = 50%  Age 57 = 45%  Age 58 = 40%  Age 59 = 30%  Age 60 = 30%  Age 61 = 20%  Age 62 = 20%  Age 63 = 0%

21. 2/29/2008 Example Joe is a full-time elementary teacher. He has a Masters degree plus 12 additional college credits. Joe has completed 25 years teaching and is 57 years old. The lump-sum payment would be calculated as follows: Base = $24,623 x 1.73710 x 1.73710 x 45% x 45% x 1.00 fte x 1.00 fte (gross subject to federal, state, FICA and Medicare withholdings) (gross subject to federal, state, FICA and Medicare withholdings) Base MA + 12 cr + 13+ yrs Age 57 Full-Time Teacher

22. 2/29/2008 Example Joe is a full-time elementary teacher. He has a Masters degree plus 12 additional college credits. Joe has completed 25 years teaching and is 57 years old. The lump-sum payment would be calculated as follows: Base = $24,623 x 1.73710 = $19,247.68 x 1.73710 = $19,247.68 x 45% x 45% x 1.00 fte x 1.00 fte (gross subject to federal, state, FICA and Medicare withholdings) (gross subject to federal, state, FICA and Medicare withholdings)

23. 2/29/2008 How to Apply? Complete current year (2008) “Application for Early Retirement Incentive” form Complete current year (2008) “Application for Early Retirement Incentive” form (must be notarized) Include copy of proof of age with application Include copy of proof of age with application Deliver to SDE Deliver to SDE Postmarked on or before April 1, 2008 Postmarked on or before April 1, 2008

24. 2/29/2008

25. How to Apply? Complete “Application for Early Retirement Incentive” form Complete “Application for Early Retirement Incentive” form Notarized ~ mandatoryNotarized ~ mandatory Use current year application formUse current year application form Proof of Age must be included Proof of Age must be included Drivers License,Drivers License, Passport, orPassport, or Birth CertificateBirth Certificate Deliver to: Deliver to: Public School Finance Idaho Department of Education P.O. Box 83720 Boise, Idaho 83720-0027 Due to SDE on or before April 1, 2008 Due to SDE on or before April 1, 2008 Other than direct proof of actual delivery (such as a copy date stamped as received by the State Department of Education), a registered or certified mail receipt or proof of delivery by a recognized delivery service (e.g. DHL, Fed Ex) is the only prima facie evidence of delivery that this application has met the filing deadline.

26. 2/29/2008 How To Get a Form? Application form available at http://www.sde.idaho.gov/financeandtechnology/default.asp Must use current year (2008) application form –(if you use an old form, it will be rejected and returned to you). From the district/charter office From the district/charter office SDE website (see above) SDE website (see above) SDE 208-332-6845 ~ LaRae Ashby SDE 208-332-6845 ~ LaRae Ashby

27. 2/29/2008 What Happens After the Applications Are Received? After April 1, 2008, the information is verified with the school district/charter After April 1, 2008, the information is verified with the school district/charter PERSI will confirm that the individual has not met the Rule of 90 (etc.) PERSI will confirm that the individual has not met the Rule of 90 (etc.) SDE notifies the applicant prior to June 1 st whether they are eligible for the program and of the estimated gross amount based on information in the IBEDS database. SDE notifies the applicant prior to June 1 st whether they are eligible for the program and of the estimated gross amount based on information in the IBEDS database. If the applicant feels there is an error with the IBEDS data, they must resolve any differences with their employer immediately. Changes must be submitted to SDE by district or charter administrator. If the applicant feels there is an error with the IBEDS data, they must resolve any differences with their employer immediately. Changes must be submitted to SDE by district or charter administrator. On July 31, 2008, the money will be sent to the district/charter. On July 31, 2008, the money will be sent to the district/charter. Payment to the applicant will be made through the district/charter payroll system Payment to the applicant will be made through the district/charter payroll system SDE VERIFIES APPLICANTS ELIGIBILITY

28. 2/29/2008 What Happens After the Applications Are Received? Information is verified with the school district/charter ~ After April 1, 2008 Information is verified with the school district/charter ~ After April 1, 2008 Verifies eligibility with PERSI Verifies eligibility with PERSI SDE notifies the applicant prior to June 1 st whether they are eligible for the program and of the estimated gross amount based on information in the IBEDS database. SDE notifies the applicant prior to June 1 st whether they are eligible for the program and of the estimated gross amount based on information in the IBEDS database. If the applicant feels there is an error with the IBEDS data, they must resolve any differences with their employer immediately. Changes must be submitted to SDE by district or charter administrator. If the applicant feels there is an error with the IBEDS data, they must resolve any differences with their employer immediately. Changes must be submitted to SDE by district or charter administrator.

29. 2/29/2008 What if the Individual Wants to Withdraw Their Application? Individual should notify SDE in writing no later than June 20, 2008 Individual should notify SDE in writing no later than June 20, 2008

30. 2/29/2008 If it’s a “go”…. If it’s a “go”…. On July 31, 2008, the money sent to the district/charter On July 31, 2008, the money sent to the district/charter Payment made through the district/charter payroll system (taxable income) Payment made through the district/charter payroll system (taxable income)

31. 2/29/2008 What If I Have Questions? Contact ~ LaRae Ashby Contact ~ LaRae Ashby Phone ~ 208-332-6845 Phone ~ 208-332-6845 Email ~ lbashby@sde.idaho.gov Email ~ lbashby@sde.idaho.gov Between 8 a.m. and 4 p.m. (mst) Between 8 a.m. and 4 p.m. (mst)