Dist. 225 Board Approves One-Time Early Retirement Option

In hopes of identifying both short- and long-term cost cutting measures for the District, the Glenbrook High School Board of Education reviewed two strategies at its Feb. 14 meeting.

First proposed at a Jan. 24 meeting, the Board approved a plan to offer eligible educational support personnel . This strategy will save the district a minimum of $17,000 annually per employee,  officials said in a recent news release.

“Employees are only eligible to utilize this one-time option if they qualify for retirement through the Illinois Municipal Retirement Fund (IMRF),” the report explained. “Employees who elect to retire would have until April 1, 2011, to declare their intent.”

The board is also considering transferring to a debt certificate structure from its current lease debt arrangement on the district office building at 3801 W. Lake Ave. Legally, a debt certificate structure would make District 225 the owner of the building and would also qualify the district for a partial exemption on real estate taxes. Administrators project a savings of approximately $46,101 every year, according to the release, and a savings of more than $400,000 between now and 2019, when the debt certificates are to be retired. Although the board reviewed the matter at Monday night’s board meeting, it will vote on the possible change at it’s next meeting, Feb. 28.

“These actions demonstrate the Board’s commitment to identifying cost-saving efficiencies, while maintaining the quality and level of services that meets the expectations of the Glenbrook community,” said Board President Skip Shein.