Early Retirement Incentive Plan Pays Off
Tomorrow, Tuesday, December 8th, the Costa Mesa City Council will hold a study session in which the current results of it's Early Retirement Incentive plan will be discussed. Based on the staff report shown on the city web site, one can only assume this program has exceeded all expectations.
PART OF 10-POINT PLAN
You may recall that the Early Retirement Incentive plan was part of the 10-point plan to balance the 2009-2010 budget. Although no savings were included in this part of the plan because there was no way to predict how many employees would take advantage of it, the city staff hoped that somewhere in the area of $3.5 million could be saved on an annual basis if all went as planned.
PLAN HOPED FOR 25 PERSON REDUCTION
The plan assumed that somewhere around 50 employees would take advantage of the plan, and that of those 50 positions vacated perhaps 25 could be left unfilled and the annual cost savings might be the above-mentioned $3.5 million.
RESULTS DOUBLED EXPECTATIONS
As of this morning 51 employees have taken advantage of the enhanced retirement program and have either already departed or will have departed by the deadline of December 31, 2009. However, after extensive analysis by individual department managers and senior staff, it has apparently been determined that only 6 of those departing employees will be replaced! The result is a projected savings of $3.6 million for the remainder of this fiscal year - or double the rate previously anticipated.
WATCHING SERVICE LEVELS
This is good news, which will be made even better if the staff assessments prove correct and acceptable service levels can be maintained despite the loss of those 45 very senior people.
KUDOS AND CONGRATS
It's nice to have a little good news for a change. Kudos to the management team for the plan and congratulations and thank you to those retirees who have contributed so much to the well-being of our city over the years. We here at A Bubbling Cauldron wish them all the best in their "golden years".
MONAHAN'S LAW BREAKING CONTINUES
By the way, councilman Gary Monahan continues to thumb his nose at the city by leaving his illegal sign up on the Newport Blvd. frontage of his pub. As predicted, he will likely run this right to the very end of the football season, pay the penalties and chalk it up to the cost of doing business.
This is terrible example for him to set for everyone and especially the other business owners in our city. I noticed that another gin mill just down the street from his place has already taken Monahans lead and has hung his own illegal banner on the side of Triangle Square. Thanks, Gary, for effectively giving the city the finger and for starting to turn this city into a slum.
MORE PRE-CHRISTMAS CHEER FOR YOU
On a happier note, the following is the next in my series of holiday music clips courtesy of YouTube.