MONTICELLO – Some 70 Sullivan County Government employees will be eligible to participate in a voluntary early retirement incentive program as the county legislature, Thursday, approved the plan.
Participation in the program will be restricted to those employees who would be eligible to retire under the criteria established by the New York State Public Employee Pension system.
The incentive will be in the form of $10,000 and be divided into two equal installments, the first payment made by August 31 and the second by January 31, 2021, said County Manager Josh Potosek.
“With the revenue picture that all county governments are facing, it is an easier way to unload some costs and have people get a little benefit at the same time,” he said.
The employees will have the option of cash payments subject to federal and state taxes, deferred compensation subject to FICA/Medicare withholding, or in a fund to offset health insurance costs.
Persons who want to participate notify the county of their intention by June 30. The open period during which eligible employees may retire and receive the additional retirement benefits will end on July 15.
The county manager or county legislature may deny participation in the retirement benefit if it is determined that an employee holds a position that is deemed critical to the maintenance of public health and safety.
Any employee that has previously submitted a letter of intent to retire is ineligible.
For an employee to qualify for the incentive program, he or she must be a full-time county worker.