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Tallmadge -- Tallmadge City Schools Treasurer Jeff Hostetler is asking the Board of Education to allow him to retire as of Dec. 31, 2012, and then be rehired as treasurer to work on a contractual basis starting Jan. 1, 2013.
During a meeting Nov. 28, the Board authorized Hostetler to place a notice in the Tallmadge Express that the Board will have a public meeting about the proposed re-employment at 6 p.m. Dec. 11 in the Community Room at Tallmadge High School. The notice is required by state law.
The Board didn't vote on Hostetler's retirement or rehiring and is expected to at its next meeting.
Hostetler first notified the Board in August that he'd like to technically retire from the School Employees Retirement System of Ohio and then be rehired.
"Effective December 31, 2012, I will have 30 years of service credit and am eligible to retire," he said. "It has been my goal that once I am eligible to retire that I start drawing the pension which I have paid into for the past 30 years. The rules of SERS give me that option."
Hostetler said the recent changes to the SERS didn't prompt him to make the proposal.
His contract expires July 31, 2015. If the Board authorizes his proposal, a new contract will replace it.
The Board discussed the terms of a possible new contract, including salary and benefits, in executive session.
Board Vice President Brad Croskey told the Tallmadge Express Nov. 29 the Board seems to be in favor of Hostetler's request because if the school district retains him, it will keep a treasurer who has performed well.
"The most important part is that we have a lot of confidence in him ... He's doing a really good job. We're just happy that he's willing to work in retirement," Croskey said.
He said for retire-rehire situations for school district treasurers, because they're drawing on their pensions to supplement their incomes, a revised annual salary of about $10,000 less is typically paid, plus comparable benefits. The Board also may offer a multiyear contract, Croskey said.
If the Board allows him to be rehired, his new contract will be made available to the public, Hostetler said.
"I will continue to work as the treasurer of Tallmadge City Schools with no interruption of service. There is no downside for the Board; in fact, this process actually has the potential to save the district money," he said.
Hostetler has worked as treasurer for the school district since 2004. He makes an annual salary of $95,352 per year.
Retire, give someone else an opportunity and stay retired! We have too many public funded employee's taking advantage of this loop hole. Quit, get rehired and double the money! We can't figure out why we are out of money! Really!