Examines early retirement plans (ERPs) for public school teachers, compares them with private-sector ERPs, and notes legal considerations involving ERPs' impact on regular retirement systems. Discusses methods for cost analyses of ERPs and proposes a model for assessing an ERP's fiscal impact on a school district. (RW)

Policy statements give a framework to decision-making power, clarify issues, regulate relationships, and assist in the resolution of differences of opinion. It is essential that a school board provide direction through a well-conceived and well-developed policy. If there is unwillingness to implement policy, a real or perceived vacuum is created…