November 24, 2014

County to offer buyout packages

By John Fischer|Staff Writer
Email me
Follow the Independent on Twitter
Posted

ARENAC COUNTY — At the Arenac County Board of Commissioners Nov. 17 Board Meeting, the commissioners voted 5-0 to offer buyout packages to employees.

To be eligible for the buyout, an employee, whether hired or elected, must have 10 years of service, said Chairman Raymond Daniels. The buyout is offered at the flat rate of $10,000.

“The employee must submit an irrevocable letter of resignation or retirement by December 15th of this year,” Daniels said, adding the payment would be made in two separate installments — one on Dec. 31, 2009 and one on Jan. 31, 2010 — to spread the possible payouts over two fiscal years.

Daniels told the Independent the county, in some instances, would benefit from lower benefit allocations if employees accept the buyout. He also said some employees might want to take advantage of the opportunity due to changes to the Municipal Employees Retirement System of Michigan and part-time benefits for county employees.

District III Commissioner Michael Snyder said the buyout could be beneficial to employees looking to move on in their careers.

“We’re going into a fiscal period where we may have a wage freeze for an extended period of time,” he said. “An employee may want take advantage of this (for other career purposes).

“An employee could walk away with a pretty nice nest egg.”

Copyright © 2014, Sunrise Publishing. Powered by: Creative Circle Advertising Solutions, Inc.