Posted in Politics

Early retirement costs over $2.6 million

   December 11, 2008

In April 2008, County Administrator Bob McLaughlin announced a county reorganization. Eighteen departments would be merged into six bureaus. It required some department heads to take a pay cut, and the county offered early retirement buyouts to dozens of employees. McLaughlin estimated the cost could be from $500,000 to several million. Well, it is several millions and still counting.

37 supervisors and department heads to advantage of the generous plan, costing Escambia County $2,670,346.

Severance Pay: $60,133
Retirement Incentive Payout: $1,647,768
Annual/PTO Leave Payout: $258,838
Sick/ELB Leave Payout: $325,221
MOB Leave Payout: $76,689
———————-Total Salary Cost $ 2,368,649
Fringe Cost
FICA Tax: $135,294
Retirement: $31,258
Insurance: $135,145
———————-Total Fringe Cost $301,696

Total Cost for BuyOut: $2,670,346

See spreadsheet:early-retirement-inc-severance-and-payout-costs-final-9_30_08

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