1,039 SDUSD Employees Agree to Retire

In San Diego, 1,039 San Diego Unified School District employees agreed to retire in exchange for an extra year’s pay. The deadline to enter the early retirement program was 5:00pm on Friday and 592 teachers were among those who decided to retire.

Image: sxc.hu

The early retirement program is part of an effort by the district to reduced at $146.7 million deficit. The district, which has a $2.1 billion budget, is the second most populous in the state of California with 130,000 students.

Around the country, many school districts, as well as other companies, are giving employees the option to retire early. Many people are taking the option for short term gains of an extra year salary or other compensation packages.