Thursday, August 26, 2010

early retirement

participation in the early retirement incentive
potentially employers only need 20 years of service to participate
If we had 20 people take advantage of the early retirement incentive and used 30% backfill, we could save UP TO $546,420
we want to make sure that we don't end up with underserved schools
cap at 20, but SC can sort numbers (so many custodians, administrative clerical, school clerical, parent liaisons, those being the positions recommended for participation in early retirement)
SC recommends UP TO 6 positions each in custodians, administrative clerical, school clerical, and 2 parent liasons for the total of 20 positions
Allen: assuming that we will be at foundation next year, but we're STILL $10 million short heading into next year due to the loss of IDEA, ARRA funds. IF the economy doesn't improve and we AREN'T at foundation, we're going to be in worse shape than that.
This is a chance, thus, to save a half a million dollars and still be able to replace 30% of the salaries of the staff we lose
We aren't going to have that advantage next spring
recommendation that these moneys be used, then education jobs funds be forwarded to FY12
MOTION CARRIES

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