St. Louis teachers flocking to retirement offer

ST. LOUIS (AP) -- Veteran employees of St. Louis Public Schools have been lining up to take an early retirement offer as the district tries to whittle its staff.

Last Tuesday was the first day workers could sign up for the incentive, which gives retirees cash payments of between $11,000 and $25,000 a year for two years.

The St. Louis Post-Dispatch reports that by the end of the week, 167 people had signed up for the retirement payment.

Administrators hope to see 250 early retirements to go along with about 250 layoffs, cutting $34 million from the budget.

Overall, the district wants to cut $58 million, while also revamping 20 of its lowest-performing schools.

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Information from: St. Louis Post-Dispatch, http://www.stltoday.com