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Elmwood Park manager proposes voluntary separation incentive for long-term employees
Summary
The Village Manager proposed a Voluntary Separation Incentive for eligible full-time, non-union employees with 20+ years of service offering either 50% of monthly health-insurance costs for up to five years or a $10,000 lump-sum payment upon retirement.
Village Manager Paul A. Volpe described a proposed Voluntary Separation Incentive (VSI) that would be available to current full-time, non-union employees who have completed 20 years of service and met minimum age requirements. Participating employees who elect the VSI and need health-insurance continuation would receive 50% of the monthly cost of continued health coverage for up to five years; if an employee elects the VSI but does not want insurance continuation, the village would issue a one-time lump-sum payment of $10,000 upon retirement.
Volpe presented the VSI as an item the board would consider; the minutes record the VSI on the consent agenda for board action and discussion of eligibility and benefit structure in the manager's report.
