Interesting story about 1,700 school employees retiring tomorrow to take advantage of a base pay boost that is about to disappear.
In a typical year, fewer than 300 of the state’s educators retire Dec. 1, while the school year is in full swing.
But this year, 1,707 educators across the state have opted to retire now. This includes 123 employees — including 63 teachers, four counselors, seven paraprofessionals, two assistant principals and two principals — in Gwinnett County, the state’s largest school district.
They’re heading out the door just in time to claim a one-time 3 percent increase in their base for yearly pension benefits that’s been given to new retirees for more than 20 years and is being discontinued in January.
The bump in benefits — capped at 3 percent of $37,500, or an extra $1,125 — was established after the U.S. Supreme Court ruled in 1989 that Georgia could not exempt the pensions of state employees from state income tax