NC city paying $860,000 to early retirees

WINSTON-SALEM, N.C. — Dozens of employees in a North Carolina city are taking a sweetened early retirement offer that officials say will help balance the budget in a tough economy.

The Winston-Salem Journal reports Friday that 43 municipal employees in Winston-Salem will collect their regular retirement benefits and get a one-time payment of $20,000.

City personnel director Melissa Hasty Taylor says 105 of the city’s 2,848 workers were eligible for the offer. The city council approved the plan that was available to workers eligible to retire this year.

Officials say they aren’t yet sure how much will be saved by the early retirements. About half of the city budget pays for employees’ salary and benefits.

(Copyright 2009 by The Associated Press. All Rights Reserved.)