Alpharetta, Milton Principals Find Retirement Pay Attractive

Principals at Alpharetta Elementary, Cogburn Woods Elementary and Hopewell Middle schools have announced retirements this year, but it's a matter of personal economics, not an issue with the Fulton School System.

Today, Feb. 14, five principal positions were advertised on the county's Web site, including these three in Alpharetta and Milton. Autrey Mill Middle School in nearby Johns Creek and the Crossroads/Second Chance School also had principal positions posted today.

Fulton School Board members Katie Reeves and Linda Schultz say the timing of those departures has much to do with cost of living adjustments by the Teachers Retirement System.

Educators working in Georgia for 30 years who retire get 60 percent of the average of their top three earning years, said Fulton School Board member Katie Reeves.

"Actually you collect right away. You don't have to wait until 65 or 62," she said. "And of course you get full benefits right away."

Fulton School Board member Linda Schultz said "work force changes that are occurring in the private sector due to the 'baby boomer' generation hitting the age of retirement are also occurring in K-12."

 The flatness of salaries Schultz said that has been driven by the economy and the "return to work" options for TRS retirees have many employees choosing to retire.

"We had 12 principals retire last year, and 4 announced retirements to date in this school year," she said earlier this month.

"Leaving by May 31st is related to a TRS rule regarding the retiree's COLA (cost of living adjustment) eligibility, not due to an urgent desire to be gone before the end of the school year," Schultz said.

"Most folks in private industry I don't think can retire at that kind of retirement salary when potentially still in their 50s," Reeves said.

"Start teaching at 22, when you are 52, you can retire with full health benefits and 60 percent of your salary. And you can go into a different industry and work," she said.

Many principals announce retirement during the school year so a smooth transition plan can be created, Schultz said.

Hopewell Middle School Principal Bill Thompson told staff and parents he has enough accumulated sick leave to reach the maximum used for retirement calculations, making it the best time to retire.

" I am completing my 38th year with Fulton County schools and 39th (40 counting unused sick leave) with the state. Therefore, I've maxed out my retirement benefits," Thompson said in a letter posted on the school's Web site.

Thompson said he feels great and loves what he's doing, but retiring effective May 31 is the best thing for him to do.

John Anderson, principal at Cogburn Woods Elementary, will be retiring effective May 1 after 32 years as an educator. But he'll be on vacation beginning in the middle of March and continuing until his retirement date. An interim principal will fill his position until the end of the school year.

"The May retirement date will allow the school system to interview candidates and to hire a new principal before the end of the school year, Anderson said in an e-mail sent to parents.

These retirees can even come back to the education system and work at up to 49 percent of their retirement pay, keeping the retirement pay and benefits, Reeves said.

"You hate to see people that are at the peak of their knowledge and at their skill level retire and elect to leave the work force. I think it’s a sad day for all of us," Reeves said.

This is one of the reasons former Superintendent Cindy Loe started a program to train and promote principals from within the system.