Lifetime of Service
LIFETIME OF SERVICE STIPEND (Severance Plan)
The purpose of this plan is to provide an ongoing yearly reward to retiring employees who have served the students of Uinta County School District Number One and otherwise meet the severance terms and conditions contained herein.
Participation in the severance plan is voluntary and will not be compelled in any way by the District. Application for participation is open to all qualified employees. To take advantage of the severance plan, employees must apply directly to the Board of Trustees. Once the designated application deadline has passed, the Board of Trustees will select employees from the applicants to participate in the severance plan in accordance with the provisions contained herein.
In order for an employee to be eligible under this plan, the employee must comply with each of the following criteria:
- Employee must complete one of the following required service periods:
- Employee must be employed by Uinta County School District Number One for a period of 25 years, including a minimum 10 year period of consecutive employment with the District immediately prior to employee’s application for the severance plan; or
- Employee must be employed for a total of 25 years with school districts as more particularly set forth below
- Employee must be employed by Uinta County School District Number One for a consecutive period of 15 years immediately prior to employee’s application for the severance plan.
- Employee may use 50% of employee’s employment term with other school districts to meet the 25 year requirement.
- EXAMPLE: If an employee worked for UCSD #1 for 15 years prior to applying for the severance plan and 20 years for other districts before working for UCSD #1, the employee could apply 10 years or 50% of the 20 years working for the other districts to the 15 years working for UCSD #1 for a total of 25 years, which would comply with the severance plan requirements under this subsection.
- Employee must be eligible for full retirement from the Wyoming Retirement System (WRS) by reaching the age of sixty (60) or meeting the requirements of the “Rule of 85”.
- Employee is disqualified from the severance plan if employee is on disability, long term disability, or long term leave.
- Employee is disqualified from the severance plan if employee has participated in an earlier retirement incentive.
- A qualified employee desiring to participate in this plan must submit a written request on forms available from the Human Resources Department prior to the last Friday in February of the school year in which applicant wishes participate.
The Superintendent or designated representative will transmit all requests to the Board of Trustees, together with the Superintendent's recommendations. The Board of Trustees will act upon all requests during the Board of Trustees' regular scheduled meeting in March of the school year in which applicant wishes to participate and will cause notification of its actions to be promptly made known to the applicants.
GENERAL CONDITIONS, PROVISIONS, and LIMITATIONS:
- The submission and acceptance of an application for participation in the plan will be considered an employee’s voluntary termination or resignation of employment with the District.
- Participation in this plan is a privilege provided by the District and not a legally protected right.
- The benefits provided by this plan do not constitute a retirement system. This severance plan and the benefits contained herein are a supplement to and not a replacement of the Wyoming Retirement System.
- The submission of an application for participation in the plan does not limit, restrict, or alter the right of the District, through its Board of Trustees and designated officials, to suspend, terminate, or dismiss an employee in accordance with District policy and the law.
- Nothing contained in this plan or implied by its terms is intended to, nor does it, grant to any employee the expectation of permanent employment with the district, other than the employment rights any employee has, or may have, by virtue of contract or operation of law.
- The Board of Trustees has the sole authority and discretion to approve or disapprove any request for this stipend, and no rights accrue to any employee under this plan until such time as the Board of Trustees approves that employee's application for participation in the plan.
- The Board of Trustees will review and approve this severance plan on an annual basis following negotiations with District staff members.
- The Board of Trustees is not limited or restricted in the criteria it may use in approving applications for participation in the plan and will make selections for participation in accordance with its good faith assessment of the best interests and needs of the district.
- The benefits under this plan will be calculated according to the employees accumulated leave bank as calculated on the employee’s pay stub. Final calculation will be made on the employee’s last contract day of the application year. The leave bank is defined as any remaining sick leave as of the last contract day, including any remaining general leave for certified staff. Unused annual leave and personal leave for classified staff will be reimbursed according to policy and procedure but will not count toward the sick leave entitlement.
- No interest will be accumulated for the employee's benefit on unpaid installments.
- Stipend income shall be considered ordinary income. Payroll taxes shall be withheld as required by law. However, this income shall not be subject to Wyoming Retirement.
- A lump sum payment shall be paid on or around June 15 of the application year.
- So long as it is permissible under the policy of the district and with the medical insurance carrier, the employee may elect to continue to be a member of the medical insurance group, as specified by the carrier, at a one-time rate of 110% of premium. Employees will not be eligible for this benefit when they reach the age of 65. COBRA benefits may also apply.
- So long as it is permissible under law and with the medical insurance carrier, the employee may elect to have any or all of the lump sum payment applied to his/her medical premium. As long as it is permissible under law, the payment of this premium will be considered a pre-tax benefit.
- An employee will not be eligible to participate in the Lifetime of Service Stipend if the employee has been terminated or dismissed or if proceedings to terminate or dismiss the employee have been initiated.
- After the Board of Trustees has approved the Lifetime of Service Stipend for an employee, the employee or the employee's beneficiary shall receive the total due to the employee.
- This policy is in complete compliance with the requirements of the Older Workers' Benefit Protection Act (OWBPA).
- An employee approved for the Lifetime of Service Stipend agrees to release any claims that may arise under the ADEA or Title VII.
- An employee who has signed the Lifetime of Service Stipend application is entitled to three additional days to revoke the waiver after approval by the Board of Trustees. Notification to revoke must be in writing and received prior to 4:00 p.m. on the Friday following the regular board meeting in March of the application year.
- The Board of Trustees will determine a specific amount of money that will be available to fund the severance plan on a yearly basis. If the amount of money needed to fund the total number of employees applying for the severance plan exceeds the available funding designated by the Board, employees will be selected to participate in the severance plan based on their seniority ranking in the district. Employee seniority will be determined by the number of years an employee has worked in the district.
A certified employee who elects the Lifetime of Service Stipend and is approved for such by the Board is not subject to certified re-hire for five (5) years from the date of Board approval. The Board may waive this section if it is determined to be in the best interest of the District and different compensation arrangements are made. This does not include substitute teaching for Uinta County School District Number One.
An employee approved for the Lifetime of Service plan shall receive benefits from Uinta County School District Number One based upon:
- Flat rate = years of service in Uinta County School District Number One X $100, plus
- Reimbursement of unused sick leave at $80 per each eight (8) hour day for retirement.
Unusual circumstances will be dealt with on an individual basis as determined and recommended by the Superintendent or His designee. An employee approved for the Lifetime of Service Stipend will receive a one-time payment of stipend, and is eligible to the benefits of a Health Retirement Account sponsored by Uinta County School District Number One as a depository for the stipend.
Uinta County School District Number One strongly recommends that each person consult a private accountant, legal counsel, or other professional assistance, as he/she may deem appropriate, regarding the ramification of each allowable option prior to making a final choice.