2009

Posted by Bob on July 8, 2009 under Daily Blogs | Be the First to Comment

The Board of Mayor and Burgesses unanimously approved a Memorandum of Agreement with the Chapter 90 supervisors union which extended the contract currently in place through June 2012. The highlights of the agreement are as follows:

Wages

Zero (0%) percent in 2009-2010;
One and one half (1.5%) percent increases as of June 1, 2010, and January 1, 2011; and
One and one half (1.5%) percent increases as of June 1, 2011, and January 1, 2012

Health Benefits

Benefit levels and contribution requirements remain the same

Pensions

All further members entering the bargaining unit will be in a defined benefit contribution plan, which will generate significant savings to the Borough in future years. Actuarial tables shall follow upon receipt from the Finance Department.

In conjunction with the aforementioned extension, the Board approved an early retirement package that was accepted by the following six (6) members of the bargaining unit: Street Superintendent; Assessor; Animal Control Officer; Park Superintendent; Borough Clerk; and VNA Director. In exchange for this incentive program, the Street Superintendent and Assessor positions will be removed from the bargaining unit upon the retirement of the current individuals performing those positions. Removal of two (2) positions from the supervisory bargaining unit is a significant concession obtained by the Borough.

As a result of the retirements, the Borough will have significant opportunity to address reform in areas of government such as public works.

The following are financial summaries and/or analysis’ of the specifics of both the memorandum and early retirement incentive program:

early retirement package;

member (employee) wage analysis; and

member (employee) pension/early retirement analysis.

An estimated analysis of the impact of the early retirement to the Borough shall follow.