Home Economy Voluntary retirements will save Norwalk $525K annually

Voluntary retirements will save Norwalk $525K annually

SHARE

Norwalk will save an annual $525,000 from 44 government employees accepting the city’s Voluntary Retirement Incentive program, according to Mayor Harry Rilling.

The program was available to Norwalk government employees over the age of 55 who had been employed by the city for at least 10 years. Those who participated in the retirement incentive program gained three years of additional service credit; those under age 62 will not be required to pay an early retirement pension penalty.

The retirements, along with another 37 current and anticipated vacancies, will result in a net headcount reduction of 14 positions, or 5% of the city’s non-uniform government workforce.

“The Voluntary Retirement Incentive proved to be a success,” Rilling said. “We were able to save taxpayer dollars, streamline the workforce, and adjust positions to meet the demands of our residents and businesses. This incentive gave us the opportunity to review vacancies and positions across all departments. I appreciate the hard work and collaboration between the unions and city officials. It wasn’t easy, but the result is a win for our community.”

Print Friendly, PDF & Email

LEAVE A REPLY

Please enter your comment!
Please enter your name here