Oregon Puts End to Plush Payouts

Tight restrictions placed on exit deals for brass.

School administrators in Oregon can no longer count on lucrative contract buyouts—sometimes nicknamed “golden parachutes”—when they leave their jobs early.

A bill approved by the legislature last month and expected to be signed into law by Democratic Gov. Theodore R. Kulongoski, forbids districts from paying administrators for work they didn’t perform, effectively ending cash exit packages for superintendents. The law also restricts them from buying school property for a...