One Maryland county is willing to sacrifice some of its most experienced employees to help close an $8 million budget gap and avoid layoffs.

Facing the same revenue shortfalls afflicting all levels of government, Harford County is offering a generous early retirement package to its oldest and longest-serving employees. About a third of the county's 1,000 workers are eligible, and their departures could save the county as much as $5 million.

County officials are coping with a nearly 14 percent decline in income tax revenues this year and hoping the buyouts will help them balance a nearly $765 million budget.

In anticipation, the county has been training and grooming younger employees to move into those positions.

The trade-off "is almost two-for-one in saved jobs," County Executive David R. Craig said at a news conference in Bel Air Tuesday. "Buyouts would go to our top wage earners. We would have to start layoffs with the bottom salaries."

As an incentive, the county is offering potential retirees 100 percent of their accumulated sick leave, double the current 50 percent reimbursement on retirement. County officials would not give a target number of employees they hope will take the buyout but say they want to save between $3 million and $5 million.

But the plan comes with costs, both to employees and the county.

Employees have to consider the penalties of early retirement, said Scott Gibson, Harford's human resources director.

"We have roughly a third eligible, but only a small number is fully eligible," he said. "Many have their 401(k)'s in the tank and cannot afford to take a penalty for early retirement."

Add to that the "big tax chunk" taken from lump-sum buyouts - usually more than 40 percent - and the offer becomes even less attractive, said John R. Scotten Jr., Harford's treasurer, who is among those eligible for the package.

"There is a lot of potential on my own staff, but I am not taking it and I am not expecting many others to," he said.

The retirements would be paid out in fiscal 2010, which ends June 30, and the jobs lost would be either eliminated or consolidated in fiscal 2011. Those interested would have to apply for the buyout package by March 12 and leave by June 30.

Other counties, despite facing similar budget gaps, have not as yet opted for employee buyouts.

"Everything is on the table," Howard County Executive Ken Ulman said, "but unless you are 100 percent sure you're not going to fill those positions, the savings aren't that dramatic, especially since we're holding so many jobs vacant."

In Baltimore County, which is facing a $138 million shortfall, officials say the savings of a buyout are offset by the greater health care costs incurred when employees retire early, extending the number of years before they are Medicare-eligible.

"We are working hard to encourage employees to remain on the job longer and will continue that strategy," said Don Mohler, Baltimore County spokesman. "All the pension plans that we have negotiated with our employee groups are designed to keep employees working."

Harford officials said they are well aware of the health-care liability, but many of the likely early retirees are or soon will be eligible for Medicare.

"If you are younger, this offer won't work so well for you," Scotten said. "But this all comes down to the individual."

As in other jurisdictions throughout the state, unemployment is taking its toll on revenues, said Craig, who recently was installed as head of the Maryland Association of Counties and has just returned from a national counties conference.

"There are counties in Florida that have seen a 50 percent drop in revenues," he said.

Harford has lost more than 5,000 jobs in the past two years, most of them in the construction and financial industries. Its unemployment rate is at 7.2 percent.

The county scheduled five furlough days for employees this fiscal year and eliminated 34 jobs. Craig has already informed employees that there will be five more furlough days in the next fiscal year.

"At least we have seen the job numbers flatten out," he said. "And, we are starting to see an increase in home settlements."

That increase, he said, is largely due to BRAC, the nationwide military base expansion that will increase the Aberdeen Proving Ground work force.

"BRAC will save us," Craig said. "We are expecting about 4,000 people this year and many of them are buying midpriced homes. We will get through this."

Baltimore Sun reporter Larry Carson contributed to this article.