When the 217 veteran teachers who enrolled in the early retirement plan offered by the Howard County Public School System leave this month, they will take with them decades of institutional knowledge.
Sue Mascaro, chief of staff for HCPSS, believes the school system is equipped to handle it.
"Our system has worked strategically to have succession plans in place," said Mascaro, who is among the 395 system-wide employees who signed up for the retirement plan. "We are fortunate to be a destination school system for staff and well as students.
"Because we have thousands of qualified applicants every year, we are able to hire highly qualified staff. Over the last five years, over 45 percent of new teacher hires have been experienced teachers from other systems."
Mascaro, a 31-year school system employee who became chief of staff in 2011, added that because the deadline to enroll was February, it gave the system "more time to recruit the best."
Mascaro said the retirement plan "is beneficial in a number of ways. The primary reason the program was implemented was to generate savings in difficult budget times. It is projected to yield approximately $9 million in total savings over the next eight years.
"The program also recognizes the dedicated service of our many of our long-term employees by easing the decision to retire for those who were ready to do so. And it creates career growth opportunities for our current employees."
In Mascaro's case, she said she had "already been considering retirement, and the incentive program helped me decide to go ahead this year rather than waiting another year or two."
She said that colleagues who also enrolled in the plan "have expressed similar sentiments" as to why they are leaving.
The retirement plan was offered to full-time employees with 15 years or more of service as of June 30. Approximately 2,600 school system employees reportedly were eligible.
The retirement package will pay an employee's current yearly salary — up to $60,000 — over a five year period. This is in addition to the standard medical/retiree benefits they qualify for.
Educators Preferred Corp., a consulting firm hired by the school system to administer the incentive, had estimated that 594 employees would choose to participate. Beverly Davis, the school system's executive director for budget and finance, said that number "was not a target number to make the plan viable.
"Although the number of actual participants is lower than was originally projected, the savings is actually expected to be slightly higher than was projected, based on those electing."
The breakdown of those enrolled is: 217 teachers; 103 support staff; 21 administrators; 29 custodians, grounds staff, maintenance staff; 20 central office staff; and five food service workers.
Beverly, who has worked for HCPSS for 12 years, does not expect the school system to offer a plan like this for years got come.
"This type of program typically delivers the greatest value when offered at longer intervals," she said. "We do not anticipate offering it again within the next several years."