Cut Bank School District

 

PERSONNEL              5253

 

Retirement Programs for Employees

 

All employees of the District shall participate in the retirement programs under the Federal Social Security Act and either the Teachers’ Retirement System or the Public Employees’ Retirement System according to state retirement regulations.

 

Certified employees who intend to retire at the end of the current school year should notify the Superintendent in writing prior to April 1 of that year.  Those employees intending to retire who are not contractually obligated to complete the school year should notify the Superintendent as early as possible and no less than sixty (60) days prior to their retirement date.

 

The relevant and most current negotiated agreements for all categories of employees shall specify severance stipends and other retirement conditions and benefits.

 

The District will contribute to the PERS whenever a classified employee is employed for more than the equivalent of one hundred twenty (120) full days (960 hours) in any one (1) fiscal year.  Part-time employees who are employed for less than 960 hours in a fiscal year may elect PERS coverage, at their option and in accordance with § 19-3-412, MCA.

 

 

 

Legal Reference:            Title 19, Chapter 1, MCA            Social Security

Title 19, Chapter 3, MCA            Public Employees’ Retirement System

Title 19, Chapter 20, MCA            Teachers’ Retirement System

 

Policy History:

Adopted on:

Revised on: