The Northwestern School Board last week approved a retirement incentive for teachers, as part of cost-cutting measures.
Superintendent Ryan Snoddy said all teachers who have taught more than 10 years in Northwestern schools are eligible. The incentive provides $5,000 per year for three years, either toward the teacher’s insurance premium if he or she is on the school’s insurance, or into a retirement account.
Snoddy said teachers have until March 31 to inform him if they will take the incentive. Those who accept then have a week to revoke a letter of retirement.
Snoddy said he will have a financial impact of the plan after spring break.
“We’re trying to make our funding reductions based on the premise we’re going to do it without laying off any staff. Any retirees we have would help us complete that task,” he said.
The incentive is to help the corporation reduce costs because of $445,000 in state funding cuts. Gov. Mitch Daniels announced in December he would cut school funding statewide by $300 million.
Snoddy said he is trying to find $528,000 in savings, to put the corporation in a better position.
He said faculty and staff in all four school buildings brainstormed cost-savings ideas, and the leadership team is determining the cost savings for each idea. Snoddy said he will focus on those that will get him to $528,000.
He plans to make a formal cost-savings recommendation at the board’s April meeting.
• Danielle Rush is the Kokomo Tribune education reporter. She can be reached at 765-454-8585 or danielle.rush@kokomotribune.com.
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