Posted: Thursday, March 21st 2013 at 10:16pm
Cornelia offering early retirement to several
By Rob Moore Editor
CORNELIA – Several Cornelia employees soon could enjoy early retirement, thanks to a decision reached by the city commission Thursday night.
Using a rule of 75, meaning the individual employee’s age plus years of service equals 75, four employees are eligible to take advantage of the one-time early retirement offer.
“Because these employees have so many years of experience, their pay is much higher than what the position would pay if they were to retire and we replaced them with someone at the starting pay for their positions,” said City Manager Donald Anderson.
The one-time early retirements would cost the city $504,536 spread out over 10 years. The savings during the same 10-year period would be $745,368 – for a net savings of $240,832.
Anderson said three employees already have indicated they will take advantage of the program, while a fourth has yet to decide.
The early retirements would help cut the city’s operating cost, Anderson said.
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