Senate approves early retirement incentives - KWWL - Eastern Iowa Breaking News, Weather, Closings

Senate approves early retirement incentives

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DES MOINES (KWWL) -- The Iowa Senate gave final legislative approval to a package of early retirement incentives for state workers. Officials project it will save the state as much as 60 million dollars a year.

The measure is aimed at state employees who have worked in state government for at least 10 years. It would give them a 1-thousand dollar cash payment for every year on the job, up to a maximum of 25-thousand dollars. The state would also continue paying its share of health insurance premiums for five years.

Governor Culver proposed the package, so it's highly likely he'll sign it into law.

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