Early Retirement Incentive for City Workers

On 4/8/21, The Chief published a story regarding the early retirement incentive for some NYC workers. Thousands of city employees may have the option to retire early while getting up to 36 months' additional pension credit under a provision included in the state's $212-billion budget that was approved April 6. The Municipal Labor Committee since last summer had urged the de Blasio administration to consider an early-retirement incentive at a time when it was threatening up to 22,000 layoffs unless it got at least $1 billion in savings from the unions to close what then loomed as a $9- billion city budget gap caused by a drop in tax revenues caused by the impact of the coronavirus on the city's economy. United Probation Officers Association President Dalvanie Powell said, "Giving hardworking civil servants the option of an early retirement will help the city maintain essential services. reduce spending and do right by the workers who have bravely and selflessly served our community." Click here to read the full article