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Home / TN: Gov’s Buyout Plan Has Some Putting Retirement on HoldTN: Gov’s Buyout Plan Has Some Putting Retirement on Hold
Last Updated on Monday, 12 May 2008 11:22 Written by rslcpol Monday, 12 May 2008 11:22
From the Knoxnews.com:
The prospect of lucrative buyout packages is leading some state employees to put their retirement plans on hold.
The Associated Press has found that Gov. Phil Bredesen’s plan to try to entice about 2,000 state employees to volunteer for buyout packages has caused some workers who had notified the state of their imminent retirement to reconsider.
Bredesen, a Democrat, last week announced the plan to eliminate about 5 percent of the state work force as part of his efforts to balance the budget amid the state’s deteriorating revenue picture.
The governor was scheduled to lay out details about nearly a half-billion dollar budget cut in a speech to a joint assembly of the Legislature on Monday night.