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Published January 20, 2014, 07:46 PM

Grand Forks School Board approves early retirement payments

The Grand Forks School Board approved $229,867 in early retirement payments Monday.

By: Jennifer Johnson, Grand Forks Herald

The Grand Forks School Board approved $229,867 in early retirement payments Monday.

Nineteen employees, mostly teachers, chose to retire this year and receive the payments, which the district will provide annually for the next four years. The amount has already been budgeted for next year, said Business Manager Vicky Schwartz.

An incentive is given to eligible employees based on the number of years they worked, among other requirements.

The incentive is based on a proportion of the staff member's current annual salary and separate from the district's contribution to the state retirement fund.

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