Austintown Local School District offers new retirement plan

AUSTINTOWN, Ohio - Austintown schools are looking to cut positions in an effort to do more with less after a drop in enrollment.
The cuts won't come in the form of layoffs, but rather an early retirement package. The package is called the Employee Severance Plan (ESP) and the district will work with Educators Preferred Corporation to implement the plan.
According to the school treasurer, the ESP is set to give prospective retirees a boost in income during retirement.
"It is a lump sum payment not to exceed $55,000 plus the applicable contractual severance pay that the employee would be eligible for," Blaise Karlovic, school treasurer told 21 News.
Eligible employees will get monthly installments of the one-time payout combined with severance pay for five years.
"[To be eligible] you have to have 15 or more years of service with Austintown Local School District as of June 30, 2025, and or be eligible for full or reduced STRS benefits as of June 30, 2025," Karlovic said
The treasurer said the district is not facing a financial shortfall now, but with enrollment declining, the ESP makes their budget more flexible.
As a result of the plan, school leaders say vacant teaching positions in courses, like art and gym, would be absorbed by current teachers throughout the district.