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Committee questions value of early-retirement incentive for five positions
Summary
After reviewing an early-retirement incentive proposal affecting five positions, the finance committee expressed skepticism and asked staff for updated IMRF data and for further study later this year.
The DeWitt County Finance Committee reviewed a proposal to offer early-retirement incentives affecting five county positions but did not endorse it on March 17.
Committee member Claro Carter said he "didn’t see any advantage to the County to offer" the incentive and recommended further analysis of alternatives, including removing the wage schedule so department heads could set wages and classify employees. The committee asked the County Clerk to request a newer report from IMRF showing the retirement-cost timeframe and deferred further action for later this year. The property committee will examine potential cost savings in that department next month.
No dollar figure for the incentive or expected net savings was recorded in the minutes. The committee said it will revisit the matter after receiving updated actuarial or IMRF data.
