WARREN County considers employee buyout
The plan could save the county between $200,000 and $300,000 a year.
WARREN -- Trumbull County commissioners are exploring a plan to save money by replacing senior employees with new hires.
Under terms of a buyout plan being considered, the county would pay the equivalent of three years' contributions into the employee's pension plan in return for an agreement to retire.
Savings to the county will come when the jobs are filled by fewer, less-experienced and less-expensive employees, said Commissioner Joseph Angelo Jr.
"We are in the talking stage," he said.
"If it saves the county money, we might go forward with it."
How it will work
Only employees with less than three years until retirement would be eligible for the plan.
Money to pay their pension plans would probably come from the $1.4 million remaining from the sale of Hillside Hospital, Angelo said.
Before an employee could take the buyout, the department in which he or she works has to agree to reduce the amount it pays out in salaries after the employee is gone.
According to documents forwarded to department heads, their salary budgets would have to be shaved to cover the cost of the additional pension contributions, plus 10 percent, within three years.
Angelo said the buyout could result in an annual savings of $200,000 to $300,000 to the county.
It is not known how many of the 1,100 workers for county agencies and departments might participate.