|Monday, February 14, 2011 – Steve Fermier and Baltimore Sun|
|City school officials are making an offer they hope that older teachers won’t be able to refuse.
Those teachers who have over 10 years under their belts three quarters of their salary for five years if they retire early.
Teachers just starting out get around $40-thousand less than those with some mileage.
CEO Andres Alonso told The Sun it’s in the interest of the teachers.
A union official agreed.
At least 350 teachers must accept the offer for it to happen…and it could be at least twice that number.
If more than 750 apply, a seniority system will kick in to keep the number from going over that figure.
Those who accept the deal could still serve as substitutes.
City school officials are hoping that the buyout will save the system enough to help close an anticipated budget shortfall estimated to be at least $70 million or more.