Financial Incentives Not Enticing Teachers To Resign
FORT WORTH (CBSDFW.COM) – School officials in Fort Worth say they are still about 300 teachers short of their goal for resignations or retirements.
So far, some 400 teachers have decided to take advantage of financial incentives to leave early.
Despite not reaching the goal number, Fort Worth ISD spokesman Clint Bond said, “I think to say that we have fallen short is premature.”
The school district is hoping for more voluntary exits to help trim next year’s budget.
“We’re not through with the program yet and we anticipate that more people will go ahead and let us know,” said Bond. “We still are hoping for about 700 and people are still making up their minds and I think they will during Spring Break. I think people will have time to sit down with their families and talk about it.”
A voluntary resignation could bring a 10-percent salary bonus, but as time goes on that percentage declines. The bonus percentages will continue to drop until March 30.
But there is another option — some long-time teachers can take advantage of what’s called “terminal pay.”
“It’s a one-time payment based on your longevity and your highest salary,” explained Bond. “ And you get a significant piece of money when you do decide to retire from the district.”
FWISD officials said 85-percent of the district budget is spent on personnel costs, so staff reductions are mandatory to reduce expenditures.