LC offers early retirement to employees to offset budget cuts

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In an effort to reduce it’s budget by 7 percent, Lewis-Clark State College is offering retirement buyout incentives for eligible employees.

The one-time proposal will be open to benefit-eligible employees who are at least 64 years old by June 30 – the end of the fiscal year.

The college is looking to make about $2.5 million in budget reductions for next year. In September, the college’s deficit was projected to be as high as $1.6 million, but that number grew because of smaller-than-expected state funding appropriations, the college’s share of change in employee compensation and a 2 percent base reduction requested by Idaho Gov. Brad Little.

Lewis-Clark State President Cynthia Pemberton says budget reduction recommendations of 2 percent, 5 percent and 7 percent submitted in the fall as a precautionary measure are now a reality.

The recommendations will be assessed by the President’s Cabinet through March 6th to determine what level of cuts will take place within the various departments.

Interested employees have until March 20th to apply for the retirement incentive program. Payouts for those who qualify will be 20 percent of their base salary, or $10,000, whichever is greater. (Lewiston Tribune)

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