Buyout plan to be sent to state employees - WMC Action News 5 - Memphis, Tennessee

Buyout plan to be sent to state employees

NASHVILLE, Tenn. (AP) - More than 11,700 state employees should receive buyout plans sometime this week.

Finance Department spokeswoman Lola Potter says the plans will be mailed on Monday and employees should get them in at least two days.

Gov. Phil Bredesen is cutting $468 million from the spending plan that begins July 1 because revenue collections are projected to fall far below expectations.

The governor is hoping 2,000 employees will voluntarily accept the plan, which administration officials estimate will save the state $64 million annually.

Finance Commissioner Dave Goetz has said he's confident the state will reach its goal.

A Web site, call center and special e-mail address will be set up to provide information and field questions from workers about the plan. Administration officials will also host a series of town hall meetings across the state.

(Copyright 2008 by The Associated Press.  All Rights Reserved.)

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