Buyouts Offered To Up To 150 Indianapolis Public School Teachers

INDIANAPOLIS, IN -- Indianapolis Public Schools (IPS) is offering buyouts to more than 200 teachers in an effort to prepare for budget planning and hiring needs, Chalkboard reports. Nearly 250 educators are eligible for the $20,000 which would directly go towards retirement plans for teachers who accept the offer, the news report say. Teachers have 11 days - by 5 p.m. on April 20 - to let the administration know if they want to take the buyout, Chalkboard reports, adding that district officials aren't calling it a buyout but an "early notice incentive."

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In order for IPS to go through with the deal, a minimum of 100 and a maximum of 150 teachers would have to accept the offer, which could cost the district up to $3 million if 150 accept. However, Chalkboard says IPS could save more money in the end if they replace retired teachers because veteran teachers are paid more, even though school officials say it's not about saving money.

Chalkboard says the district could back out of the deal, though as officials have until May 4 to decide whether to go forward with the program.

Patch will continue updating this story.

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