VSEA Press Release On Treasurer’s Support For Retirement Incentive Plan

State Treasurer Pens Support For Retirement Incentive Plan!

VSEA Calls on Governor to Halt Layoffs in Favor of Retirement Incentive Plan
            The Vermont State Employees Association (VSEA) is hailing a letter sent today by State Treasurer Jeb Spaulding to the Governor, legislative leaders, and VSEA, signaling his support for a voluntary retirement incentive program that, if adopted, could halt future reductions in the size of the State workforce.
             “If this retirement incentive is adopted, it could prevent further RIFs and free up some positions for already RIF’d employees to fill,” said VSEA Director Jes Kraus. “VSEA urges the Governor to stop needless layoffs, and give this incentive a chance to work before making any more drastic cuts to State services.”  
            Kraus added that a retirement incentive offers the Douglas Administration the structural change it continues to say it needs.
            “This is structural change that will allow hard-working, longtime state employees to retire with dignity, knowing that their retirement could save a less senior employee from facing a RIF,” said Kraus. “State employees will begin joining the unemployment lines on June 5, if the Governor doesn’t take a step back and support this alternative.” 
            In his letter, Spaulding says his office worked with the Department of Human Resources and the Joint Fiscal Office to cost out the savings that could be achieved by offering eligible state employees a voluntary retirement incentive option. He writes: “Based on this review and analysis, and with a few minor adjustments, I believe enactment of this proposal would be a positive step” and “I believe this initiative, with the revisions specified, could not only save the State money in coming years, but could reduce the necessity of future Reductions In Force and provide an opportunity for some employees who have been ‘RIFed’ to return to employment.”