SAN DIEGO (CBS 8) - More than 470 San Diego Unified teachers have taken an early-retirement incentive.
The district offered veteran teachers a year's salary in addition to their regular retirement benefits. Because of a declining student population, the district is expected to fill only 90 percent of the vacancies created by the retirements.
The move should save the district millions.
"It's a good deal for the district because 471 educators will save the district somewhere between $5 and $7 million the first year and somewhere between $25 and $32 million over a five year period," San Diego Education Association President Bill Freeman said.
School officials say the early retirements will also allow the district to hire the best and brightest younger educators to fill the vacant teaching spots.