Teacher Voluntary Early Retirement Incentive Act of 2001

H.R. 2558, the Teacher Voluntary Early Retirement Incentive Act of 2001, proposes changes to federal age discrimination laws to allow schools and universities more flexibility in offering early retirement packages. Under this bill, local school districts and higher education institutions could legally offer voluntary retirement incentives that reduce or end certain supplemental benefits once a teacher reaches a specific age. Additionally, the bill would allow these employers to coordinate retiree health benefits with Medicare or state-sponsored health plans without violating age discrimination protections.

For teachers and school staff, this legislation would clarify the types of financial incentives and medical coverage they can receive when choosing to retire early. For educational institutions, the bill aims to provide a clear legal framework for managing their workforce and budgets through voluntary retirement programs. While the bill was introduced and referred to a subcommittee in 2001, it did not advance further in the legislative process.