There may soon be fewer long-time teachers in Metro schools, but those thinking of leaving say it would be a “win-win” for them and the district.
A key committee of the Metro School Board this week unanimously approved a buyout plan for workers, including teachers, who have at least 30-years experience.
They would receive $700 for each year of service and $500 for early notification.
The idea comes as the Metro School Board is looking for ways to cut costs because of a projected budget shortfall for the 2014-15 fiscal year.
One of those thinking about the buyout is Metro Schools Student Services director Alvin Jones who has been with the system for 35-years, eight in his present position.
“It's an opportunity for me to have some money that would be difficult for me to save, and it would also save the district some money, too,” he told News 2 on Friday. “It would probably give me about $26,000 dollars, and to be honest, I don't think I could save that kind of money.”
Metro School Board Budget and Finance chair Will Pinkston tells News 2 a final vote is expected on the plan Tuesday by the full board.
The plan also needs Metro Council approval.
The school board estimates that 144 teachers would be among the 269 Metro school employees eligible for the buyout, but probably half of those numbers would actually take the buyout.
The $4.3 million needed for the buyout would come from the district's rainy day fund.
The plan estimates the buyout would save the district about $7 million annually depending on the final numbers
One reason for the buyout is the school district faces an estimated $23 million shortfall for the coming fiscal year.
The last buyout of Metro teachers occurred nine years ago.