New Haven teachers union buyout plan falls short of target
NEW HAVEN — A union-led plan to give senior teachers an incentive to retire early to help the cash-strapped school district save money and avoid potential lay offs or involuntary personnel moves was thwarted when the plan fell short of its goal.
Leaders of the New Haven Federation of Teachers union had proposed a plan that would give the district an initial savings in year one, allowing it to avoid paying out accrued sick time for retiring teachers, but would give those teachers additional sick days to cash out in the following four years. The union targeted a minimum of 40 teachers for the plan, but said it was aiming for a maximum of 100.
“We had examined it and determined there could be savings there. The unions agreed they’d be the ones to carry the water,” said New Haven Public Schools COO Michael Pinto.
However, only 29 teachers signed up for the plan, he said, below the level of incentivized retirements that would make the Medicare supplement payments worth it for the district. On average, 30 teachers retire from the district annually.
Read more: https://www.nhregister.com/news/nhregister/article/New-Haven-teachers-union-buyout-plan-falls-short-14065221.php
(New Haven Register)