The agreement requires all employees to contribute 5% toward their pensions and cost sharing approximately 20% for healthcare.  The contract provides for 4% in wage increases over the four years.  New hires will receive a reduced benefit pension but no healthcare in retirement.  At age 65, current employees will receive a Health Retirement Account, an annual cash stipend to purchase Medicare supplemental coverage.  These benefit changes are expected to reduce the City's "Other Post Employment Benefit" (OPEB) and pension liabilities, positively impact the City's financial statements and credit rating, and reduce a future expense to the City. 

"As front-line supervisors, we depend upon these hard-working employees for supervising staff and ensuring policy and procedures are followed when delivering vital services.  These employees recognize the City's need to effectively manage finances, including addressing long-term liabilities;" commented Mayor Bill Wild. 

Ted Williams, Union President, said "we are pleased to reach settlement on a new contract that provides for pay increases, and we realize that contributing toward pension and healthcare costs helps the City."

Mayor Wild reports, "Currently, myself, all directors, non-union, AFSCME and WPOAM employees along with the Clerk, Deputy Clerk and approximately 160 employees, now contribute toward their retirement and healthcare costs.  The City is in talks with our Fire Union and will soon begin negotiating with Police Command Officers," Mayor Wild continued.  "The City's goal is consistency in wages and benefits among our various employees groups and achieving new contracts that help stabilize finances and reduce legacy costs by eliminating retirement health care benefits and reforming costly pension packages"