Henrico County VA
facebook twitter email rss

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.
Community

Lions Club donates backpacks to elementary school

The Richmond West Breakfast Lions Club (based in western Henrico) recently donated 59 backpacks to the Westover Hills Elementary School on Jahnke Road.

Above, club members display some of the backpacks prior to their distribution. > Read more.

Glen Allen student to perform at Carnegie Hall

Thanks to a first-place win in The American Protege International Vocal Competition 2014, Glen Allen High School student Matija Tomas will travel to New York City to perform at Carnegie Hall in December.

At the first-place winners recital in Weill Hall, Matija will perform Giacomo Puccini’s opera aria, “Chi il bel sogna di doretta.” She will perform with other vocalists from around the world and have the opportunity to win other awards and scholarships.

Locally, Thomas has performed with Richmond’s renowned Glorious Christmas Nights, Christian Youth Theatre, and WEAG’s Urban Gospel Youth Choir. > Read more.

Gayton Baptist Church dedicates new outreach center


The John Rolfe YMCA and Gayton Baptist Church have partnered in an effort to bring greater health and wellness opportunities to the community.

Through this partnership, the John Rolfe Y will run Youth Winter Sports programs, including basketball and indoor soccer, in Gayton’s newly renovated $5.5 million outreach center that features a new gymnasium, youth and teen space, social space with café, meeting space and full service commercial kitchen. > Read more.

Page 1 of 118 pages  1 2 3 >  Last ›

Entertainment

Restaurant watch

Find out how your favorite dining establishments fared during their most recent inspections by the Virginia Department of Health. > Read more.

CAT Theatre announces cast of Sherlock Holmes play

CAT Theatre’s 51st season will open with Sherlock Holmes: The Final Adventure, which will run from Oct. 24-Nov. 8. Adapted by Steven Dietz, it is based on the original 1899 play by William Gillette and Sir Arthur Conan Doyle and was the winner of the 2007 Edgar Award for Best Mystery Play.

The plot follows what seems to be the end of the career of the world’s greatest detective as he is confronted with a case far too tempting to ignore. When the King of Bohemia faces blackmail by famed opera singer Irene Adler, Holmes and his faithful companion, Dr. Watson, find themselves falling into the trap of evil genius Professor Moriarty. As Holmes says, “The game is afoot Watson, and it is a dangerous one!” > Read more.

Extras sought for AMC’s ‘TURN’

Paid extras are being sought to appear in the AMC television series TURN: Washington's Spies, which will begin filming its second season in the Richmond area at the end of September and continue through February.

No experience is required, but producers say that extras must have flexible availability, reliable transportation and a positive attitude.

Arvold Casting is holding an open call on Sunday, Sept. 21 and is seeking men, women and children who are Caucasian, African American and Native American, with thin to average builds and who can realistically portray people living in Revolutionary War times. Long hair is a plus but not a must. > Read more.

Page 1 of 97 pages  1 2 3 >  Last ›







 

Reader Survey | Advertising | Email updates

Classifieds

READERS & MUSIC LOVERS. 100 Greatest Novels (audio books) ONLY $99.00 (plus s h.) Includes MP3 Player & Accessories. BONUS: 50 Classical Music Works & Money Back Guarantee. Call Today!… Full text

Place an Ad | More Classifieds

Calendar

Wilton House Museum, 215 S. Wilton Rd., will present “A Georgian Folly for the 21st Century” from 6 p.m. to 8 p.m. Interior designer, architect and preservationist Ralph Harvard will… Full text

Your weather just got better.

Henricopedia

Henrico's Top Teachers