SD Unified Officials Look Into Early Retirement Plan
Thursday, January 29, 2009
San Diego Unified school district officials are looking at whether they should give veteran teachers extra money to retire early. They say the plan might actually help save money. KPBS Reporter Ana Tintocalis has more.
Teachers union leaders are set to meet with district officials to talk about the possibility of early retirement plan, often referred to as a Golden Handshake.
Union officials have been told the plan could affect roughly 600 teachers with more than 15 years in the district. The deal would allow the teachers to take a financial buyout in exchange for retiring early.
The district's James Masias says the deal could save millions in the longrun because veteran teachers are costly.
So the hope is that you have more people at high enough pay that would leave the district, so you're able to find savings in that differential between the high amount and incoming people at a lesser pay amount.
The incoming people are often young, inexperienced teachers. The deal is the latest way the district is looking to plug a multi-million dollar state budget shortfall next school year.
Ana Tintocalis, KPBS News.