School Board analyzes post-retirement program


A program that pays retired Henrico school system employees a percentage of their final annual salaries in exchange for their part-time work within the system saves considerable money on substitute teacher expenses but could provide even more value to the system with several adjustments.

That was the conclusion of an in-depth analysis completed by county and school system finance officials, who presented their findings to the School Board Sept. 13.

At the beginning of the current fiscal year in July, the board increased the requirements of retirees who participate in the Post-Retirement Earnings Plan (PREP) program, mandating that they work at least 28 days during the school year in order to receive pay equal to 20 percent of their final annual paychecks. Eligible retirees may participate in the program for a maximum of seven years; 388 participate currently.

It was the third change made in the past three years by the board, which is seeking to squeeze more value from the 32-year-old program while reducing its annual cost. The PREP budget has dropped from its peak of $8.9 million in 2009 to $5.6 million during the current fiscal year. Prior to this year’s change, PREP participants received 22 percent of their final paycheck in exchange for working 24 days a year.

The program was created in 1980 as a way to provide a benefit to employees, encourage early retirement and save the school system money. During its budget process this spring, the School Board sought specific data to better determine the effectiveness and value of the program. But last week’s work session was proof that categorizing that value is a challenging exercise.

Though it’s relatively easy to determine the cost savings that results from using PREP retirees as substitute teachers – since there is a standard rate of pay for substitutes – it’s much more difficult to determine the value of administrative retirees who perform a variety of other responsibilities, Henrico Finance Director Gene Walter told the School Board.

Walter and his staff studied 507 PREP participants who entered the program during the past seven years and whose replacements were hired immediately upon their retirement. (The study didn’t include nearly 50 other participants whose former positions were eliminated, he said.)

Of those 507, 317 were retired teachers whose combined participation during those seven years saved the system $1.18 for each $1 it spent on the program, Walter said.

But Walter and his analysts could not determine a dollar-to-dollar estimate for the other 190 participants because their roles within the system were less defined and often entailed duties for which the system wouldn’t have hired temporary help.

School system officials recommended that the board consider a number of changes to the program that would make it easier to determine a clear value for each dollar spent in the program, including:

• assigning every participant to serve either as a substitute teacher (if qualified) or to fill another capacity with specific and direct calculable benefit to the system (such as SOL remediation);

• capping the maximum allowable salary to a participant at $90,000 annually;

• increasing the number of required years of Henrico service from 10 years to 15 years for eligible retirees and reducing the number of required years of service in the Virginia Retirement System from 16 to 15;

• requiring that interested participants notify the system of their intent by Dec. 1 annually and begin their participation the following July 1 (as opposed to the current system, which permits entry throughout the year – a minimum of 30 days after retirement – and makes budgeting for the program less predictable);

• grandfathering all current participants under the current standards until they have completed their seven years or dropped out of the program.

“We have determined that there’s a large responsibility on everyone’s part here to develop something that’s going to be very beneficial and cost-effective and also value-added to the school system,” Superintendent Pat Russo said during the work session. “That’s where we want to move this program.”

Current guidelines require that participants be at least 50 years old without having attained the age for full, unreduced Social Security benefits. The program initially was designed in part to serve as a bridge between retirement and Social Security, HCPS Finance Director Kevin Smith told the board. Using current standards, 854 current school system employees would be eligible to participate in the PREP program if they retired, HCPS Human Resources Executive Director Howard Banks said.

The board is expected to discuss the recommendations and the PREP program again at a meeting next month.
Bail Bonds Chesterfield VA

Henrico Doctors’ Hospitals named to nation’s top 100


HCA Virginia's Henrico Doctors' Hospitals recently was named one of the nation’s 100 top hospitals by Truven Health Analytics, a provider of information and solutions that support healthcare cost and quality improvement.

Henrico Doctors’ Hospitals consists of three community hospitals – Henrico (Forest), Parham, and Retreat Doctors’ Hospitals – and two freestanding emergency departments, West Creek Emergency Center and Hanover Emergency Center. Henrico Doctors’ Hospitals specializes in heart and stroke care, women’s health, oncology, orthopedics, urology, and behavioral health. > Read more.

Henrico residents invited to share design ideas for new Fairfield Area Library


Henrico County Public Library is planning community meetings March 28-29 and April 1 to receive input from county residents on the design of a new Fairfield Area Library. Meetings will be held at the Fairfield Area Library, 1001 N. Laburnum Ave., and at the Eastern Henrico Recreation Center, 1440 N. Laburnum Ave.

Architects from BCWH, Inc. will join library staff for the meetings, which will feature discussions and seek ideas on spaces and services for specific age groups as well as designs for the entire facility. > Read more.

Virginia529 enrollment period closes March 31


Time is running out to enroll in a program to prepay tuition at Virginia public colleges and universities. The current enrollment window for Virginia529's Prepaid529 ends March 31. Nearly 50,000 Virginia students have funded college costs through this program since it began 20 years ago.

Prepaid529 allows families to purchase semesters of tuition and mandatory fees for newborn children through ninth graders. Semester prices vary based on the age of the beneficiary. > Read more.

Henrico Police seek Northside robbery suspect


MAR. 21, 9:30 A.M. – Henrico Police are seeking the man who robbed a Wells Fargo Bank on Brook Road Monday evening.

At approximately 5 p.m. March 20, police responded to the bank, in the 8100 block of Brook Road, after reports that a white male had entered the business and presented a note demanding money. > Read more.

Baker students to be shifted to other schools temporarily

MAR. 20, 5:31 P.M. – Students at Varina's Baker Elementary – which is closed following a fire Sunday – will be moved to other schools temporarily while repair work is completed at Baker, school system officials announced today.

The school was closed today and will be closed Tuesday, but beginning Wednesday pre-K students and those in the Early Childhood Special Education Program will temporarily attend school at the New Bridge Learning Center, 5915 Nine Mile Road.

Baker students in grades K-2 will temporarily attend Mehfoud Elementary School, 8320 Buffin Road in Varina. And students in grades 3-5 will temporarily attend Varina Elementary School, 2551 New Market Road.
> Read more.
Community

Villa’s Flagler Housing wins national NAEH award


St. Joseph's Villa’s Flagler Housing & Homeless Services was one of three entities to earn the National Alliance to End Homelessness' Champion of Change Award. The awards were presented Nov. 17 during a ceremony at the Newseum in Washington, D.C.

NAEH annually recognizes proven programs and significant achievements in ending child and family homelessness.

Flagler completed its transition from an on-campus shelter to the community-based model of rapid rehousing in 2013, and it was one of the nation's first rapid re-housing service providers to be certified by NAEH. > Read more.

RIR’s Christmas tree lighting rescheduled for Dec. 12


Richmond International Raceway's 13th annual Community Christmas tree lighting has been rescheduled from Dec. 6 to Monday, Dec. 12, at 6:30 p.m., due to inclement weather expected on the original date.

Entertainment Dec. 12 will be provided by the Laburnum Elementary School choir and the Henrico High School Mighty Marching Warriors band. Tree decorations crafted by students from Laburnum Elementary School and L. Douglas Wilder Middle School will be on display. Hot chocolate and cookies will be supplied by the Henrico High School football boosters. > Read more.
Entertainment

Weekend Top 10


For our Top 10 calendar events this weekend, click here! > Read more.

 

March 2017
S M T W T F S
·
·
·
·

Calendar page

Classifieds

Place an Ad | More Classifieds

Calendar

Dr. Douglas Ottafi will visit River Road Presbyterian Church Mar. 31 through Apr. 2 to speak about the topic "Who is Jesus Christ?" Ottafi will speak Mar. 31 at 3 p.m. at Union Seminary in a lecture that is open to the public. The following day, from 9:30 a.m. to noon, Ottafi will make a presentation at River Road Presbyterian Church, 8960 River Road. On Apr. 2, from 10 to 10:50 a.m., Ottafi will speak to the Adult Sunday School and then make a presentation at the church from 2 p.m. to 3:30 p.m. Ottafi, the author of numerous books and articles, is the Craig Family Distinguished Professor of Reformed Theology and Justice at Davidson College, past president of the Society of Christian Ethics and former professor of theology and ethics at Union Presbyterian Seminary. For details, contact the church at 740-7083 or .(JavaScript must be enabled to view this email address). Full text

Your weather just got better.

Henricopedia

Henrico's Top Teachers

The Plate