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Prescott Valley negotiates benefits renewal; staff recommends 5% base pay adjustment in tentative budget
Summary
Human resources staff told the council that the town negotiated a benefits renewal that reduces an initial insurer quote and that the tentative budget includes a recommended 5% base pay adjustment for the general pay plan, with additional midyear funds reserved for compression adjustments.
Director DeChant told the council on May 1 that the town entered benefits renewal discussions with higher than expected utilization and that the carriers initially quoted increases between 30% and 40%. Director DeChant said the town negotiated the renewal down and secured a 19% increase for the plan.
“We were able to negotiate that down…
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