State Program Offers Government Employees Incentives to Retire Early

Government Cuts OTS_1531878795880.png.jpg

The state wants government employees to retire early, in an effort to save money over the next couple years. It is offering incentives to down-size over the next two years. 

Agencies over a certain size threshold must reduce employment positions by 5 percent.

The Office of Management and Budget is offering a Voluntary Separation Incentive Program, which is basically package deal offered to state government employees willing to retire early.

Opting into the program means collecting an additional three months salary and three months worth of benefits.

The Voluntary Separation Incentive program is not a new idea. OMB offered it in the last biennium also.

Office of Management and Budget Director Joe Morrissette says, “To meet that reduced level of spending, that was primarily the reason it was offered last time; to find savings at that time. And here, it’s a little longer term view, to find savings in the future, provide agencies as they’re working on their budgets, an opportunity to: if positions open up, to be able to examine those positions and look at how they can redefine the job duties.”

There are currently 14 state agencies participating, with 5,700 employees. The deadline to apply is August 24th.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss