a_d
Wednesday Night
64°
Partly Cloudy
24%
Thursday
67°
Chance Rain Showers
42%
Thursday Night
47°
Mostly Cloudy
8%
Friday
70°
Chance Rain Showers
34%
Friday Night
56°
Rain Showers Likely
67%
Saturday
67°
Rain Showers Likely
72%
Saturday Night
53°
Chance Thunderstorms
47%
Sunday
77°
Thunderstorms Likely
45%
Sunday Night
56°
Thunderstorms Likely
80%
Monday
60°
Slight Chance Thunderstorms
79%
Monday Night
47°
Mostly Cloudy
22%
3 Day
Extended
a_d
a_d
Monday, February 9th, 2009

Teachers offered new severance package

By William Kincaid
Looking for ways to cut expenses, Fort Recovery Local Schools is offering a new severance package to entice eligible teachers to resign or retire, according to school administrators.
The option, approved recently by both the board of education and Fort Recovery Education Association (teacher union), would give an annuity payable over five or eight years depending on a teacher's circumstances.
The package works in two ways, according to Treasurer Lori Koch.
Teachers who are eligible to retire under State Teachers Retirement System of Ohio (STRS), but are still working, are now being offered an annuity payable over five years in addition to their normal severance package. The annuity amount will depend on various conditions, including how long they have worked, according to Koch.
Also, any teacher who has worked at least 12 years under STRS - whether all at Fort Recovery or not - is being offered an annuity payable over eight years at a total maximum amount of $40,000.
No one has accepted the terms yet, but Koch said the process has just started as the information was just given to teachers recently. Financial counselors are available to assist those interested, she said.
Asked why board members initiated the policy, Superintendent David Riel said Fort Recovery is facing financial issues just like Ford, GM and local factories and is looking for ways to reduce expenses.
"Obviously with salaries and benefits being 80 percent of the money you spend, you look at personnel," Riel said this morning.
Like some of the major companies, Riel said those in charge can either lay off or offer an incentive for some to resign or retire.
"It's basically the exact same conception you would see in the business world," he said.
a_d
Additional online story on this date
The competition at the 2009 Lions Wrestling Invitational was intense with four teams in line for the team championship going into the championship round, with host Celina and Mercer County rival Coldwater within a few points of each other. [More]
Subscriber only stories on this date
Group to talk about funding state parks
Santanello pleads not guilty to stealing drugs
Technology company hopes to upgrade Mercer County's Internet access
Minster snaps Celina's eight-game win streak
a_d