Culver City : Teacher Retirement Plan OKd
The Culver City Unified School District and the teachers’ bargaining agent agreed last week to a one-time plan giving retiring teachers lifetime monthly payments ranging from $214 to $440.
The payments are intended to help retiring teachers not covered by Medicare pay for health coverage, but the money can be used for any purpose, said Larry Bordan, chief negotiator for the Culver City Federation of Teachers. The size of the payment depends on when the teacher chooses to start receiving it, he added.
To be eligible for the plan, teachers must be at least 58 this October, announce their retirement in writing this month, and retire at the end of the academic year, said Ralph Villani, assistant district superintendent for personnel.
About 25 of the 42 teachers who could qualify for the plan have expressed interest in participating, Villani said, adding that the program will accept a minimum of 12 teachers and a maximum of 30 teachers.
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