Erie County hopes for many to retire early

ERIE, Pa. (AP) -- Nearly 50 Erie County employees have signed on for an early-retirement incentive program initiated as a cost-cutting measure.
Employees can get an extra 20 percent added to the years of service used to calculate pensions under the current offer.
County workers have until Wednesday to decide whether to accept the terms of early retirement, and another week after that to back out.
An estimated 70 to 75 workers are expected to sign up by the deadline, personnel director Peter Callan said.
The county anticipates savings of $900,000 or more in 2004 if those workers do accept early retirement, county officials said. Money would be saved through lower starting wages for replacements and the elimination of some positions.
Employees 55 and older with at least 10 years of experience, or those with at least 30 years of service regardless of age, are eligible for the program.