Iowa city school board alters early retirement program

Wednesday, June 4, 2014

The Des Moines school board decided Tuesday that teachers will not be able to accrue benefits for unused time off after this June and moved to cap the amount that can be spent on the district's early retirement program in the 2015-16 fiscal year.

The 2015-16 early retirement incentive program will be capped at $1 million. In previous years, there was no cap, with the program typically costing the district about $3.5 million per year.

Also, the revised program will give out a payment in one lump sum, instead of over five years.

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