New Proposed City Worker Early Retirement Plan Unveiled
PITTSBURGH (KDKA) – A new proposal for an early retirement program in Pittsburgh was unveiled Thursday morning.
Kevin Acklin, who heads Mayor-elect Bill Peduto's transition team, presented the revised plan to address the concerns of those who opposed the original Peduto plan.
Under this proposal, non-union city employees whose age and years of service add up to 70 would be eligible for early retirement.
Those who choose to participate would receive two-and-a-half weeks' salary per year of service as an incentive.
A 50-year-old worker with 20 years service, who made $50,000 for example, would be eligible for almost $50,000. The lump sum would be capped at one years' salary.
But the savings to the city would depend on just how many employees would decide to take advantage of the offer.
Acklin estimates the city could save about $2.9 million under the proposed plan.
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