Q: I was interested in your recent response to the person who inquired about retiring at age 52 with 30 years of service.
I understand that I cannot receive my pension until age 55, but what about health insurance? What if I retire before age 55? Does the district suspend me until age 55 or is my leaving early considered a resignation where I would not get any health benefits?
A: Thank you for your insightful question. Many collective bargaining agreements require a certain period of service time in the district AND resignation from the district for the purpose of retirement from the New York State Teachers' Retirement System in order to be eligible for health benefits.
There have been many instances where people who left districts and waited a year or two for retirement forfeited health insurance. You should check with your local union president to learn what happens under your local contract.
Q: I was recently hit by a car and have had to miss work. The driver's insurance is picking up my medical expenses through no-fault. If the insurance company compensates me for work days missed, will this affect or lower my final average salary in any way? I plan to retire after this school year.
A: If you are receiving your salary and are still on your district's payroll, your final average salary will not be affected.
Q: I have a question about how final average salary is calculated. I am in Tier 4 with about 20 years of service.
Our district provides the teachers for a local jail education program and our school year is 12 months. We work full time (20 days) for the months of July and August and receive 20 percent of our salary.
I had heard that my FAS would be the last 600 days. Do the summer months of full-time work get included in the FAS as time, or are they calculated as money earned for the whole year (July 1-June 30)?
A: The salary you receive for your summer work will be included in the FAS calculation. Because you are already receiving a full year's service credit as a full-time teacher, you do not receive additional service credit for summer school (i.e., anything in excess of 170 days in that school year).
And while this isn't a question, we're happy to print a message from a reader about a recent column:
I'm writing to you in regards to your column about Tier 3 members who paid pension contributions for more than 10 years. I am one of those teachers who have been very resentful about having to contribute that money for more than 10 years when other teachers didn't have to. I always thought it should be retroactive and wondered when I would get it back.
Your column has given me a whole new perspective on the issue and I thank you for that. I understand now that was the law at the time and the whole issue is not discriminatory.