School district offers $25,000 for early retirement
April 9, 2009
A $25,000 payday could await Tahoe Truckee School District teachers who opt for a proposed early retirement being offered by the district.
The proposal, which would need approval from the school district’s board of trustees in a Thursday afternoon meeting, offers teachers who are near retirement a tiered-incentive program to retire so younger, less well compensated teachers may keep their jobs.
“This is not a cost-savings measure, it’s a teacher-saving measure,” said David Inns, district assistant superintendent of Human Resources.
Inns said a pool of 40-or-so teachers who are within the last three years of their career are eligible for the incentive.
If 15 to 19 teachers decide to retire at the end of the school year, they’ll receive a one-time payout of $15,000. If the number who are willing to take the incentive jumps to between 20 and 29, they’ll receive a $20,000 payout. Finally, if 30 or more teachers agree to take the incentive, a $25,000 incentive will come their way.
Inns said the move would encourage older teachers to retire, thus lowering the number of layoffs that would need to come from the district’s reduction of 73 positions.