FOX44NOW.COM - Burlington/Plattsburgh News, Weather and SportsState says about 1,000 workers may retire early
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Associated Press - June 15, 2009 4:05 PM ET
MONTPELIER, Vt. (AP) - The state of Vermont is looking for a few good workers - to retire early.
State Treasurer Jeb Spaulding has sent early retirement incentive offers to about 1,000 state workers, hoping that 300 of them will agree to retire early, in the process saving the state money and potentially helping avert more layoffs.
To be eligible a person has to be a state employee as of June 1, be participating in a defined benefit or defined contribution retirement plan and have either 30 years' service or at least five years' service if the employee is 62 or older.
The biggest cash incentive will be $15,000 under the program, but the payments are based on years of service.
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