Any ideas for a 1st grade behavioral plan?

After the round table discussion we had on Tuesday I began to realize that most of the discipline plans I have read and heard about a more directed to upper elementary. As I mentioned in class i am in a 5th grade, and have witnessed a successful behavioral plan. The class has its own currency called "Hinze bucks" and are able to buy activities or prizes during their Friday Free time. The amount of time they get for the free time is based on how much time the class wasted on the timer. (20mins at the beginning of week) The students keep each other accountable for the time but getting money is based more on individual behavior. I liked how this works because unlike the marble jar mentioned in class, students are responsible for their own money. In the marble jar idea I felt like many arguments and hostility could arise by making everyone suffer from one student.
Since next year I will be working with first graders I want to begin thinking about a plan similar to my current teacher. I believe the money concept might be a little too much for them to comprehend but want to find something similar. I have not spoke to my CT next year but heard through the current intern that her behavioral plan is name on the board then a check for no recess then a call home. I really do not want to ever take away resource unless it is an absolute must. So I am wondering if there is anyone out there that seeing a great behavioral plan in lower elementary that doesn't include taking away recess?

Should students know their reading level?

After reviewing some of my classmates responses about how they see reading implemented, I wanted to bring up a strategy from a teacher I observed in TE301. My Ct at the time had been teaching for many years and swore that students improve faster if they know the level of success they are at. She had every book in the classroom labeled with a colored sticker. This sticker would indicate a child's reading level. So lets say that there were about 5 groups and therefore 5 different color stickers used. For instance, a yellow sticker would indicate the lowest reading level. Student in this group were only allowed to read the books labeled with a yellow sticker. The teacher each week would meet with all the different color groups and listen to the read out loud. It was then that she would listen or do a running record to gage whether they can move up to the next reading level. She will show them using different books and say this is the book you are reading (bigger font, more pictures) in a few week I want you to be reading this type of book with no problem. ( smaller font, more challenging vocabulary) I struggle with this way of teaching reading for several reasons. I am not sure that all students would respond positively. Some students might shut down, and just assume reading in their "bad" subject and not try to make much effort to fix it. Other students might be embarrassed that other students know their reading level. Not to mention, the teasing and ridicule that students might face. I just feel like the risk of a stigma towards reading is far to great to approach reading groups this way. My teacher however, assured me that this was not the case and has been successful for many years. I guess it might just come down to knowing your classroom and students and what they are able to handle.