Early Retirement Offer for Fresno Teachers

June 24, 2009 1:12:27 AM PDT
The Fresno Unified School District has struck a deal with the teacher's union that could help the district avoid layoffs, while giving long time teachers a big summer bonus.The district looks to save close to 1.3 million dollars if eligible teachers take the retirement incentive. The 25 thousand is in addition to retirement benefits and many say it's too good to let pass.

Linda Minier has been a teacher for 38 years, she is considering an early retirement now that Fresno Unified is offering a 25 thousand dollar retirement incentive.

The district plans to use nearly three million dollars in federal stimulus money. The budget for 2009-2010 has already passed ... retirements would take effect the following year.

The district says 130 teachers are eligible for the retirement incentive and vacated positions will be immediately backfilled with temporary teachers.

The incentive is available in one lump sum for teachers who meet the requirements.

Teachers must be full time employees, 60 years old with at least 25 years of service with Fresno Unified, and they must retire from active employment by July 15th.

Teachers can receive the 25 thousand dollars in cash, or roll it into a 403B plan.

Administrators with the Fresno Teachers Association tell Action News the money will be taxed by the government and teachers could bring home about 20 thousand dollars after taxes.

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