ERI proposed in Municipal Relief Bill (H4631) has some interesting requirements.

 

Read the fine print in section 11 of the Municipal Relief Bill (H4631) and you will find some very interesting provisions that load it up with some heavy paperwork.  See my highlighted areas in the copy here on our website (H4631) to see what I mean: 

Retiring employees do not receive payouts of accrued sick and vacation but instead the town has to pay that amount into the retirement system. 

Compensation to replacement employees is limited to 30 percent in fiscal year 2011, 45 percent in fiscal year 2012 and 60 percent in fiscal year 2013. 

The town will have to justify the ERI program to PERAC (this will be an adventure). 

An annual report will have to be submitted by the town to PERAC and the Executive Office of Administration and Finance.  (I assume every year (10) of the ERI payoff.) 

Of course anything can happen between now and possible passage.  Dale

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