District 113A: Tim Ricker Not Eligible for Full Pension

Superintendent Tim Ricker will receive only limited benefits when he retires at the end of the school year, according to information released by the district Friday.

The terms of Ricker's retirement, by the District 113A Board of Education, are part of the contract negotiated in 2008, said Board Member Lisa Wright. He will receive his full salary and benefits through June 30, 2012, his last day with the district.

According to the release, Ricker "is not fully vested or eligible for full retirement benefits under the Teachers' Retirement System of of the State of Illinois (TRS)." He is also not eligible full for full benefits from the Teachers' Health Insurance Security Fund (THIS), a health fund of the State of Illinois.

Ricker is, however, eligible for limited benefits based on his years of service in District 113A, the release states. The district has made contributions of 10.375 percent per year on a monthly basis to TRS on Ricker's behalf. Any benefits entitled to Ricker will be paid directly by TRS.

Neither Ricker nor his spouse "will receive health, life or dental care benefits beyond his retirement day of June 30, 2012, from District, 113A," the release states. Ricker is, howver, eligible for COBRA coverage for health insurance.

Per his contract, Ricker will receive compensation for all accumulated vacation and sick days. To date, he has accumulated 25.48 vacation days and 66.75 sick days.