Municipal Early Retirement Incentive | MassCops

Municipal Early Retirement Incentive

Discussion in 'Retirement & Investments' started by Anonymous, Apr 4, 2003.

  1. Anonymous

    Anonymous New Member

    Just FYI- The Public Service Committee held a hearing yesterday to discuss the possibility of another ERI for city and town employees. The hearing went very well with the Co-Chairs expressing the need to give local officials a way of fiscal relief without laying off workers.

    I am almost certain that the Committee will report a favorable recomendation that the bills ought to pass, and the Governor is also on board. This ERI is almost identical to last years bill, an employee will be able to substitute five years of service or age, or a combination of the two, but not to exceed five.

    Local officials will then have to vote to accept the ERI and may limit the number of employees who can enroll. The intent is to give fiscal relief to local communities and to avoid lay offs.

    Lets hope this passes!
     
  2. j809

    j809 Subscribing Member

    I heard that a 7 year Early Retirement Incentive is in the works FY04. Expect to see something in July.
     
  3. 40th MPOC#309

    40th MPOC#309 New Member

    Let's hope so Yimmy. That'll clean us out-how 'bout you 'n Woody lateralling (is that a word?) over????
     
  4. mpd61

    mpd61 Retired Fed, Active Special

    The seven (7) year itch was just that....an itch.
    I'd put my money on the +5 age/service. It's nearing the done deal phase.

    That coupled with lay-offs should pretty much add to the "do more with less" program in commonwealth law enforcement.
     
  5. j809

    j809 Subscribing Member

    Yeah, especially when MPD61 and I found out we're getting layed off!
     
  6. Gil

    Gil Founder of MassCops Staff Member

    <font size="2" face="Arial, Helvetica, sans-serif">Yikes :eek: sorry to hear guys. Is that a done deal?
     
  7. mpd61

    mpd61 Retired Fed, Active Special

    Found out today there most likely be three of us layed off. Nothing final until May. I'll keep my fingers crossed. Next town over, they're talking seven guys and Brockton is talking 37 guys. It's a shitty time. [​IMG]
     

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