COLDWATER, MI (WTVB) – The Coldwater City Council approved a resolution Monday night meant to retain a long-time Public Safety Department employee.
The employee is eligible to retire but wanted to be considered for the Municipal Employees’ Retirement System Deferred Retirement Option Program which is also known as DROP.
The unnamed employee has 32 years of experience.
The City would like to retain the employee’s services and the employee is interested in working for another five years which is the maximum under the DROP program.
But the employee was only interested in DROP if the City could increase compensation above the 60 percent retirement benefit.
If the employee left, Public Safety Director Joe ScheId told the Council that finding a replacement in today’s job environment would be difficult
Scheid says the employee has been dedicated over the last three decades.
Part of the resolution called for the City to add a $9,000 annual contribution to the employee’s 457 retirement plan to partially bridge the gap in benefits.
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