PLACEMENT: Departmental
TITLE:
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REQUEST FOR APPROVAL OF VOLUNTARY EARLY SEPARATION INCENTIVE PROGRAM
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EXECUTIVE SUMMARY:
executive summary
The Human Resources Division has created a Voluntary Early Separation Incentive Program (VESIP) to offer to eligible employees. Employees who enroll in VESIP and voluntarily conclude their employment with Martin County ("the County") will be paid up to twenty (20) weeks of their base pay and the County will maintain their medical/dental insurance benefits through February 28, 2021. Program participants will be responsible for the employee portion of the premium in effect and any subsequent employee premium increase.
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DEPARTMENT: Administration
PREPARED BY: Name: Matthew Graham
Title: HR and Risk Management Director
REQUESTED BY: Matthew Graham
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
Under VESIP, a participating employee with six (6) years of full-time service with the Martin County Board of County Commissioners ("Board"), enters into an employment contract with the County to obtain the following benefits by voluntarily separating from the County:
A. Two (2) weeks of pay at the employee's current base rate of pay (less applicable taxes) for each full year of service as a full time County employee up to a maximum of ten (10) years (service of six months and one day is rounded up to a full year).
B. Twenty (20) weeks of the employee's medical/dental insurance benefits will be paid by the County through February 28, 2021. This does not include any supplemental insurance purchased by the employee. Program participants will be responsible for the employee portion of the premium in effect and any subsequent increase of the employee premium.
VESIP will offer opportunities for cost savings by hiring a new employee at a lower rate than the employee who vacated the position.
ISSUES:
None
LEGAL SUFFICIENCY REVIEW:
This item has been reviewed for legal sufficiency to det...
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