Reform 5.6: “Share-in-Savings” Bonuses

Cross-Cut Reform: Provide for “Share-in-Savings” Bonuses for City Employees in FY 15 and 16.

Other Information:

As outlined in the preceding section on reducing and freezing “pensionable pay” to achieve reform, we propose that city employees be eligible for compensation increases in the last two years of the five year financial recovery plan period – provided that savings from reduced pension payments are achieved through the enactment of reforms. Policies on how those savings will be distributed to employees will be a subject of “meet and confer” with a not-toexceed cap on payouts determined by savings attributed to the reforms. It is anticipated that savings generated through pension reform will allow employees during the last two years of this financial recovery process to “catch up” on compensation increases.

Indicator(s):

Indicator:1

Content