If you're a teacher of retirement age, you may soon have your cake and eat it too. A new company, Waco-based JR3 Education Associates, is rehiring retired teachers and contracting them out to different school districts.
Under the company's plan, teachers will receive a yearly salary from JR3 and get their pension and health insurance from the Teachers Retirement System.
The company has created what some superintendents think is the most lucrative package yet for teachers.
When employed by JR3, a teacher with 30-years experience and a $40,000 salary when they retired, will end up getting about $28,000 from the retirement fund and a $35,000 salary from JR3.
That will increase their total income some $20,000.