Friday, July 19, 2002
Early retirement a one-time option for town
Massachusetts towns have until November 1 to decide to participate in the state's one-time early retirement option for (non-teacher) municipal employees. At their July 9 meeting, the Carlisle Board of Selectmen discussed how this plan might affect Carlisle. The plan allows a town to add up to five years of service and/or age into the calculations of an employee's pension benefits. This would result in higher pension payments for the life of the individuals, and the cost would be borne by the town. Eligible employees would have to retire by the first of December.
Town Administrator Madonna McKenzie said the plan was originally devised as a method for towns to save money by reducing their staff, but she did not think the plan would save Carlisle any money, since retiring workers would need to be replaced with new hires. On the other hand, she and the selectmen agreed that the one-time option might be used to reward some long-time employees who are approaching retirement. A few employees have expressed interest in it.
The selectmen decided to ask town treasurer Ann Vandal to calculate more precisely the plan's potential costs to the town and benefits to the employees.
© 2002 The Carlisle Mosquito