Cedar Falls schools offer early retirement
CEDAR FALLS, Iowa (AP) - The Cedar Falls Board of Education has
voted to offer early retirement incentives for the first time in
more than 25 years.
Board officials said Monday the offer will be made to
associates, secretaries, clerical staff, technicians and
administrators who are at least 59 years old by July 1, and have at
least 10 consecutive years of service in the district.
Those who qualify will receive 50 percent of their 2009-10 base
salary in a minimum of 24 equal payments over two years.
Because the school district couldn't reach agreement with the
Cedar Falls Education Association, teachers were not included in
the program.
District Superintendent David Stoakes says including the
teachers in the early retirement program could have saved the
district up to $550,000. The current plan could save the district
up to $195,000.
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