The new regulation 4702 gives current bridge members and this year's
retirees as well as those who dropped out between July 1, 2011 and
June 30, 2013 without earning 7 years of the benefit the ability to be
paid 7% of their final contract's salary by working 5% time of their
final contract - 10,11, or 12 days.
The VREWP participation form will be sent out and must be returned by
June 5th to be eligible to participate.
The regulation DOES NOT state a 7 year or any year length of
participation statement.
It reads under Length of Participation:
a. The Program will begin on July 1, 2013, and will terminate on June 30, 2014.
It seems from board member comments tonight and last week during the
work session that the intent is to discuss the Program each year and
decide at that time if it will continue for the next year...and if it
does continue, participants could be a part of it for up to a 7 year
maximum...but that wording is NOT in the regulation.
retirees as well as those who dropped out between July 1, 2011 and
June 30, 2013 without earning 7 years of the benefit the ability to be
paid 7% of their final contract's salary by working 5% time of their
final contract - 10,11, or 12 days.
The VREWP participation form will be sent out and must be returned by
June 5th to be eligible to participate.
The regulation DOES NOT state a 7 year or any year length of
participation statement.
It reads under Length of Participation:
a. The Program will begin on July 1, 2013, and will terminate on June 30, 2014.
It seems from board member comments tonight and last week during the
work session that the intent is to discuss the Program each year and
decide at that time if it will continue for the next year...and if it
does continue, participants could be a part of it for up to a 7 year
maximum...but that wording is NOT in the regulation.