Please read the message from human resources about the buy out carefully including the attachments. The message itself did not make it clear that there was more than a time extension.
Teachers may work one semester, or one year more (including spring and summer if desired) and still qualify to leave under the buyout. You may not rescind your retirement after THIS August 4, but you may work an additional year if this make more financial sense for you. Buy out payments would commence in the December after you stop working.
The College continues to maintain the right to retain critical employees for up to three semesters. Payments to employees over 64 years old will be at an accelerated schedule. The origianl HR document has all the details.
The new deadline to decide is July 28. All College forms must be filed by then.