State considers early retirements

Early retirement incentives (ERIs) may be offered by some agencies soon, according to a memo sent yesterday by the Office of Budget and Management to all state agency directors and fiscal officers.

Agencies must demonstrate that ERIs would result in cost savings and support agency management goals before offering deals to eligible employees. Plus, the person at the agency level who approves its ERI plan must exempt themselves from accepting early retirement under the plan.

The memo outlined terms for both voluntary and mandatory ERI plans. Check out the details in the OBM Memo.pdf