City school system needs more than 300 teachers to move forward with early retirement plan
The Baltimore city school system needs 315 teachers in order to execute a plan to offer an early retirement incentives to educators with more than 10 years experience.
According to the latest update from the school system's website, 36 teachers have committed to taking the buyout, announced last month as a cost-saving measure that could save the district between $5 million and $10 million next year.
By offering teachers 75 percent of their current salaries, which would be dispensed into an investment account over a five-year-period, the district hoped that it could induce up to 750 early retirements and resignations. If 350 teachers don't 't take the plan, the deal will be called off.
With a month until the April 15 deadline for teachers to take the buyout, it seems that minimum may be hard to come by.