(Bel Air, MD) – – Harford County Executive David R. Craig has today announced that he will submit legislation to the County Council seeking its approval for funding a one-time retirement incentive program for county employees.
“As the Administration is working on the preparation of the FY 15 Budget, we have analyzed and assessed many alternatives to balance the budget given our flat revenue projections. One alternative is to reduce the county’s workforce through attrition to include retirements. As a result, I have made the decision to, with Council approval, implement a one-time retirement incentive program for County employees,” said County Executive David R. Craig.
The purpose of the incentive package is to reduce expenditures by reducing the workforce through attrition. While the cost and benefit of the incentive package will depend on the number of employees that choose to participate, the county estimates the incentive package will cost $2 million in additional funds while it will save an additional $4 million through the first six months of FY15.
Among the benefits included in the package as proposed is payment for 100% of an employee’s Sick Leave balance. Under ordinary retirement, an employee is entitled to a 50% pay-out of sick leave.
This program would apply only to county employees whose agency is under the direct control of the Harford County Executive. County employees who decide to retire under this incentive program must make their irrevocable intent to retire known to Human Resources by March 7, 2014, and must retire by July 1, 2014.