RUMFORD — The Regional School Unit 10 board of directors voted overwhelmingly Monday night to offer retirement incentives to certain teachers.

Jeremy Volkernick cast the only dissenting vote.

Superintendent Craig King made the proposal as a cost-saving measure for 2016-17. 

Qualifications are that teachers be at least 62 years old and have 10 years with the district. Each would receive $5,000 per year until age 65.

The deadline to indicate an intention to retire is March 15, 2016, although that deadline could be extended depending on the subject taught by the potential retiree, he said.

“This is totally voluntary,” he said. “It would benefit the district and could reduce costs because most of these teachers have 30-35 years experience, and are at the top of the scale.”

Replacements are generally first year teachers or those with fewer years of experience.

He declined to say how many teachers may qualify.

The district serves the towns of Buckfield, Hartford, Sumner, Canton, Peru, Dixfield, Carthage, Mexico, Rumford, Byron, Roxbury and Hanover.

He said preliminary reports may show an increase of about $339,000 in general purpose aid to education for 2016-17.

The approved budget for 2015-16 was $36,713,818, which was 1.5 percent higher than the previous year. About 52 percent came from the state, 45 percent from district towns and 3 percent from miscellaneous sources.

“We’re in a community that is a high receiver (of state aid),” King said.

He said the district has about $900,000 carryover. Historically, only a portion of carryover funds are applied to the proposed budget total.

The board met at the Pennacook Learning Center and welcomed newly elected board member Heather Gallant of Mexico.

The board will hold public hearings on the budget, followed by a public vote in May and a final vote tentatively set for June 14.

The board’s next meeting is set for Jan. 11, 2016.