BEL AIR, Md. - Seeking to reduce long-term expenditures and its workforce through attrition, Harford County Executive David R. Craig announced Wednesday that he will submit legislation to the County Council seeking its approval for funding a one-time retirement incentive program for certain county employees.
Craig said the cost and benefit of the incentive package will depend on the number of employees that choose to participate. However, the county estimates the incentive package will cost $2 million in additional funds and save an additional $4 million through the first six months of Fiscal Year 2015.
According to a news release from Craig's office, the benefits package includes 100 percent payment of an employee's sick leave balance. Usually, an employee is entitled to a 50 percent pay-out of sick leave.
Craig said those eligible for this proposal are only county employees whose agency is under the direct control of the county executive. Those who decide to retire under this program must make their irrevocable intent known by March 7 and must retire by July 1.