Teachers have an important job and Humboldt County has many teachers that have been teaching students for decades. Early incentive buyouts allow those that have been teaching for at least 20 cumulative years to retire early and provide cost savings to the Humboldt County School District (HCSD).
At their regular meeting on Jan. 10 (with Board Clerk Nicole Bengochea absent), the HCSD Board of Trustees approved buyouts for six long-standing teachers. Between salary, benefits and insurance, the HCSD will save $560,312,90 by approving the buyouts.
“I believe there comes a time when a staff member simply feels that he/she is ready to retire. These are amazing and wonderful educators, but that realization is an important one to consider,” Humboldt County School District Superintendent Dr. Dave Jensen in an email after the meeting.
Requirements that must be met include at least 20 years of service with the HCSD, entrance into the Public Employees Retirement System (PERS) at the end of the year, and “ purchase policy defined share if requesting a contribution for years 2 and 3.”
Three of the teachers requested a buyout for one year, two teachers requested buyouts for 1.5 years and one teacher requested a buyout for 1.8 years. The HCSD will purchase up to 1.83 years from teachers through the PERS at rates of up to 100 percent of year one, 50 percent of year two and 33 percent of year three. Teachers must purchase 1.17 years to reach a full 3 year request.
Not only do teachers have the option to retire early, but the district is able to save money by purchasing years from teachers by bringing in new staff on a lower payscale.
“The downside is the loss of the clear expertise that each of these seasoned veterans have and offer to the students we serve in Humboldt County,” explained Dr. Jensen.
The HCSD must have the fiscal means in order to purchase years from teachers, which has been possible the past few years. With the Pupil Centered Funding Plan (PCFP) formula imparted by legislation passed in 2019, which adjusts funding on a per pupil basis for each district, this perk may not be possible in the future.
“In the vast majority of cases, there are savings that can be calculated in the first year, providing value to the district, especially in times in which we are having funding issues, such as we are having under the new PCFP formula,” said Jensen.
Twenty plus years of molding the minds of students is hard to fathom, but it is surely a commendable career and achievement. Approving the buyouts is not just fiscally motivated, but is a way to honor teachers in the district, according to HCSD Board of Trustees members.
Dr. Jensen said “Congratulations to each of those individuals that were approved at the board meeting. Each has had a longstanding positive impact on the students of Humboldt County School District, and we wish each the absolute best in their future!”