Louisiana Insurance Commissioner Jim Donelon gave some of his employees the chance to take an early retirement incentive, to help his agency balance its budget. Donelon says six employees took the offer under which they will receive a lump sum payment of 50 percent of the agency’s savings from their leaving. The retirements are set to save the department $561,000 in the next budget year, minus the cost of health care. The Department of Insurance is one of many state agencies that have sustained significant budget cuts under the Jindal administration. With the retirement incentive, Donelon’s office will be down to 225 employees from a recent 275 headcount.
Read further details from The Advocate here.