Amarillo College approves employee retirement incentive plan

NewsChannel 10

Amarillo, TX - A voluntary retirement incentive plan for eligible employees has been approved by Amarillo College.

In a special meeting of the Board of Regents Tuesday, it was decided employees who have worked ten years at the college, and are eligible for retirement, may take advantage of a monetary retirement plan.

President Paul Matney says the incentives will help the school with budgetary savings.
"What we're trying to do is capture some savings, now we realize that not all of the people that take us up on this plan will be replaced but many will, and so we are not sure how much savings there will really be until we see how many people participate in it."

The program is voluntary. The Board of Regents say the opportunity to retire gives the college budgetary options.

Don Nicholson/Board of Regents Secretary:
"We are giving our administration, our human resource department a tool and an incentive to some of our employees that are eligible to retire, maybe they've been thinking about it, and they've had the state service here in Amarillo College to take that little nudge and let us reduce our budget a little bit."

Matney and other members of the President's Board are not eligible for the benefits.