School Retirement Incentive Plan Okayed

Claiming a potential savings of over $200 thousand this year in personnel costs, Lincoln Parish School District’s Assistant Superintendent Lisa Bastion urged the School Board to adopt an incentive plan to encourage several qualified employees to retire.

The plan was adopted unanimously.

The action came at last Tuesday’s meeting of the Board.

Said Bastion, “We have about 30 people in our district who have completed DROP (Deferred Retirement Option Plan), or will complete DROP this summer. In this discussion, we realized that we have identified four people which would not have to be replaced. So, through attrition, if these four people accepted this incentive, we would save $212 thousand this year.”

“We have talked about setting aside up to $10 thousand – paying a $10 thousand incentive bonus for early retirement, but these people would have to meet the qualifications and have to apply.”

She went on to say if no one applied, the cost savings would be through attrition, or not replacing personnel that retire or resign.

The district hires 60 to 100 new employees each year, according to Superintendent Mike Milstead.

The plan would take applications for the incentive late this month, and would pay out the money in June.

One Response to “School Retirement Incentive Plan Okayed”

  1. Kirby Says:

    What kind of “incentive” can they legally offer these employees?

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