Dear All BFA Members: BOCES and BFA have negotiated a change to the normal retirement incentive language in the contract. If you are interested, you must decide within the next few weeks. Here are the details of the offer: 1. You must have worked full time for BOCES continuously for 10 years.
2. You must be able to retire without penalty from TRS or ERS.
3. You must submit an irrevocable notice to retire by June 26 and retire by June 30 this year.
4. In exchange, BOCES will pay you 40% of your base salary (i.e. not including any longevity, etc). 5. The payment will be made to your non-elective 403(b) account. 6. The retiree health insurance provisions in Article VI.2, 3 and 4 (p. 16) stay the same. Please take the time to review. If you are interested, you should call TRS or ERS immediately to inquire as to any notice requirements you might need to give them and see if you are eligible to retire without penalty. You also want to ask what your monthly pension payments will be