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Fayetteville School Board Looks At Early Buyout For Employees

District Could Save As Much As $9 Million In Future Salaries

Posted: October 25, 2013 at 5 a.m.

Some employees in the Fayetteville School District may be offered early retirement if the School Board decides on either of two early buyout options presented Thursday.

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"The hybrid plan allows those employees to increase their salaries which in turn could improve the amount of benefit they receive from the Arkansas Teacher Retirement System.

The retirement systems looks at the three highest years of income when determining the pension amount, Mones said."

In other words, the school district hopes to save money by increasing the burden on the Retirement System, which is already underfunded. Great plan.

Posted by: ImUnarmed

October 25, 2013 at 8:52 a.m. ( | suggest removal )

Ark Teachers' Retirment is one of the few plans in Ark which has recovered from Bush.

Posted by: cdawg

October 25, 2013 at 3:51 p.m. ( | suggest removal )