The program – which will last for a period of one year – tries to encourage those on payroll to leave their positions voluntarily. The maneuver will likely save the county on labor expenses and certain IMRF expenses by leaving some positions open or perhaps even hiring less experienced labor at a lower cost.
Before the County can implement the program, a remaining balance in the thousands of dollars would first have to be paid off.
Knox County Board Chair Greg Bacon tells WGIL it’s a cost savings to the county.
“They all wont go out,” says Bacon. “But if we get half at 600-thousand [dollars] plus we get some higher benefits off the books, because see that’s part of the audit and everything is benefits on the books, comp[ensation] time, sick time, it’s carried over forever,” says Bacon.
The county budgeted funds to pay the balance on previous retirement incentives. More than 40 county employees are eligible to participate.
Employees interested in retiring early could begin starting in July.