Tulsa Technology Center’s Board of Education approved a Voluntary Retirement Incentive Program offering a financial incentive for eligible employees who elect to retire.
In order to participate, employees must have completed ten years of full-time continuous service, be eligible for full retirement benefits with the Oklahoma Teachers Retirement System (OTRS) and retire from Tulsa Tech at the end of fiscal year 2016.
The Voluntary Retirement Incentive Program includes an incentive benefit that is based on years of full-time continuous service completed at Tulsa Tech.
The deadline for submitting an election form to participate is April 14. The program is a one-time offer.
The board approved the program as one of several strategies to deal with the impact of current and expected cuts in state funding and budget reductions announced by the Oklahoma State Department of Career Tech, according to Tulsa Tech Superintendent and CEO Dr. Steve Tiger.
If all eligible employees participate in the program, the anticipated savings is approximately $1.4 million.