• Retirement

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    Idaho Falls School District understands the importance of understanding your retirement. Our goal is to equip you with information needed to make the best-educated decision about your retirement.

    • Any certified, classified or administrator planning to retire must notify their supervisor/principal, by submitting a retirement letter as soon as possible so we can move forward with a replacement for your position.
    • About six (6) months prior to your anticipated retirement, contact PERSI or visit their website for a retirement estimate. If you have already received a retirement estimate (not an annual account statement), and you are going to retire on the date specified in the estimate, submit a retirement application six weeks prior to retirement. The minimum age to retire with PERSI is 55 in order to receive a monthly retirement benefit.

    How to calculate your Sick Leave Entitlement:

    • The balance of your remaining sick hours can be used to continue your benefits. To calculate your sick leave entitlement - divide unused sick day/hours into half, then multiply that amount by your daily/hourly wage. That total equals the amount available to purchase retiree insurance. After that sum is exhausted, you may continue these benefits by paying with your retirement funds.
    • You may continue medical/Rx, dental, and life insurance benefits.
    • Deferment is available for applicable insurance plans. Please contact the HR Department for details.

     

    * Idaho Code 33-1228 allows eligible retirees to convert half of their unused sick leave to a sick leave account that can be used to pay qualifying insurance premiums. Once converted, the unused sick leave shall be used to pay premiums for “group health, vision, prescription drug and dental insurance programs as maintained by the employer.”

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