Politics & Government

Piermont Adopts Retirement Plan Aimed At Saving Village Money

The plan targets specific government employees and may save up to $40,000.

Piermont officials recently adopted a new retirement incentive law into legislation that will likely save the village tens of thousands of dollars.

The retirement incentive—one of two possible incentives that could be adopted—was passed down by the New York State and Local Retirement System.

The decision comes on the heels of several public hearings on the topic, where trustees and residents discussed the most economically-sound choice. This one, titled "2010 Retirement Incentive Program Part A," may save Piermont tax payers approximately $40,000.

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The program works as follows: the village approaches an employee eligible for retirement. If they accept the proposal—which grants them additional service credits—a new employee is hired at a 50 percent less pay scale over two years.

(For example: if an employee making $60,000/year retires, they will be replaced by an employee making $30,000/year.)

Find out what's happening in Nyack-Piermontwith free, real-time updates from Patch.

The village adopted the plan with a specific DPW worker in mind, though it is his/her choice whether or not to accept the proposal.

"We should give this employee the opportunity to do so if they want," said village trustee Audie Moran.


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