HomeMy WebLinkAbout02/09/2010 Council Presentation - FY 2011 Voluntary Pay Reducations & Tools;''/`. FY 2011 -Voluntary Pay
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~___.-.~ 2011 Voluntary Pay Reduction Plans and Tools
Voluntary Reduction Options
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~. ~' .I - Separation Incentive Program (SIP)
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- Sabbatical
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~~ 2011 Voluntary Pay Reduction Plans and Tools
• Separation Incentive Plan (SIP)
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- Voluntary resignation or retirement
• Regular full and part-time classifed and unclassified
employees
• Resignations or eady and normal retirements
'i` s~! s Election period is March 1 -April 30, 2010
• Separations from July 1 -September 30, 2010
receive 100 % of the SIP incentive beneft
• Separations from October 1 -December 31, 2010
receive 50 % of the SIP incentive
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~•` 2011 Voluntary Pay Reductlon Plans and Tools
~?; • SIP incentives separating July 1 -September 30
50 % payout of sick leave balance
100 % payout of vacation and compensatory time balance
• Life insurance continuation at the town's expense for one year
$150 medical plan subsidy for 6 months for COBRA, ASKS or
PSPRS participants
},_ - Severance payment based on years of service times annual
ttj ' salary (capped at $50,000)
S
pmt ; % of Annual Base Salary Length of Service
~iT 1.5% o-loyears
~1 1.75% >70to15years ~I
2.0% > 15 years '',
SIP incentives separating October 1 -December 31
'-.4[ (. Half of incentive package ',
.." ,~ 2011 Voluntary Pay Reduction Plans and Tools
--r" ( Sabbatical
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- Regular full and part-time classified and unclassified
.n' employees
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~<_ - Time off taken in 30 calendar day increments; not to
f, ~.. exceed 180 calendar days
' - Employee maintains/accrues all benefits and seniority
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su
ject to health care premium contributions
- No holiday pay
- Election period is March 1 -April 30, 2010; election is
~ - irrevocable
2011 Voluntary Pay Reduction Plans and Tools
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• Sabbatical (cont.)
- Employees electing Sabbatical may not be subject to
mandatory pay reduction requirements for FY 2011
(except layoff)
- Must not result in additional costs
- Operational needs met; approved by department head,
general manager and town manager
- Position left unoccupied due to Sabbatical maybe filled
r: -= ~ _ by a WRAP assignment
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,,,_..-.,..,,,, 2011 Voluntary Pay Reduction Plans and Tools
', Worker Recession Assignment Program
(WRAP)
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~~~' -Classified employees only
~ ...J -Directed or voluntary assignments
' ~ -Clarifications to WRAP:
• Performance evaluation/subject to probationary period
• WRAP assignment and reduction in force
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~~ 2011 Voluntary Pay Reduction Plans and Tools
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• Questions and Discussion
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