By Matt Artz
Friday, July 15th, 2011 at 3:53 pm in Uncategorized.
The city council is set to sign off Tuesday on a new two-year contract for police officers The deal, which cops ratified last week, would save the city about $1.7 million this year and establish less generous pension and retirement medical benefits for future employees.
Police salaries would be cut across the board by 4.25 percent, retroactive to July 3.
Health benefit allowances would be capped at $580 per month per employee effective June 30, 2013.
Shifts would be reduced from 11 to 10 hours, saving the city about $500,000.
New employees would get roughly the same retirement benefit as current employees, but they’d have to work till age 55 to get those benefits, instead of 50. It’s called 3 percent at 55 in HR speak.