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Proposed Retirement Incentive Program for State Employees

posted Jan 14, 2010, 12:56 PM by Andy Bock   [ updated Feb 3, 2010, 10:21 AM ]

| Jason Clayworth | Des Moines Register | February 3, 2010 |

As many as 2,261 state employees could receive taxpayer incentives of up to $25,000 to retire early under a proposal approved by the Iowa House Tuesday. They would also get paid for unused vacation time and up to five years of health insurance. The bill, Senate File 2062, is part of an overall cost-savings measure identified last year by a private consultant hired by Gov. Chet Culver. The bill would save between $57.4 and $59.8 million, as estimated by the state's nonpartisan Legislative Services Agency and the consultant, Public Works LLC. The bill passed the House in a 98-1 vote and now returns to the Senate for further consideration.

| Jason Clayworth | Des Moines Register | January 19, 2010 |

State employees will be offered up to $25,000 to retire early plus paid for their unused vacation time and up to five years of health insurance under a bill approved today by the Senate State Government Committee. ….. Employees who have worked for the state for 10 or more years would be eligible for a $1,000 a year buyout for up to 25 years of service, according to the bill.

| Iowa Senate Study Bill 3002 |

This bill as drafted does not include employees of the Board of Regents (BOR).  It is unknown if this bill may be amended to include BOR employees, or if an additional bill may be considered.  The incentives include health insurance premium payments, in addition to a cash payment of $10k-$25k depending on years of service.  The cash payment would be paid out over a five years.  Retirement would need to be applied for by April 15, 2010, with June 1, 2010 or earlier as last day of employment.
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