Doyle announces early retirement program

Monroe County Executive Jack Doyle announced an early retirement program for county employees. The retirement program is the latest in a series of measures introduced to reduce the cost of county government and prevent a property tax increase. Doyle previously announced a reduction in capital projects and travel expenses, along with other initiatives to address the county's challenging fiscal situation. By offering the early retirement program, the county hopes to encourage eligible employees to retire and lessen the severity of a reduction in the county workforce, which could potentially include hundreds of employees.

The number of participants in the early retirement program will help determine the reduction in the workforce necessary to address the county's fiscal situation, which has resulted primarily from increased Medicaid and health insurance costs along with decreased or stagnant State and sales tax revenues. Any decisions regarding a reduction in the county workforce would be made later this year.

There are two parts to the early retirement program: the Early Retirement Incentive Program (ERIP) and the 55/25 plan.

The ERIP will be available to county employees 50 or over with at least 10 years of service in the New York State employee retirement system. County employees eligible for the ERIP will receive a letter informing them about the program and asking them to respond if they are interested in participating. Under the ERIP, employees will be eligible for an incentive equal to one-twelfth of a year of additional retirement credit for each year of service, up to a maximum of three years of credit.

The Monroe County Legislature is expected to consider approval of the ERIP during its July meeting. Monroe County has participated in each of the retirement incentive programs that the state has offered since 1994. New York state has approved an early retirement incentive program in seven of the past eight years.

The 55/25 plan is available to employees who are age 55 or older with 25 years or more of service in the New York State employee retirement system. Under the 55/25 plan, eligible employees will be able to retire early without penalty or reduction in their pension. The plan begins July 3 and will run for 90 days.