55 Youngstown workers take early retirement

The city plans to keep about 10 of the jobs vacant, saving about $650,000 to $750,000 annually in wages and benefits, Bozanich said.

The city already eliminated six of the positions previously held by those who retired, he said.

Also, the city has filled, and will fill other positions with workers at a reduced salary compared with those who previously held the job, he said.

“We’re pleased with the program,” Bozanich said. “We reduced the overall personnel costs. We have decisions to make on replacements. We’ll work on those in the next few months.”

The city’s general fund is estimated to end this year with a $3,035,704 deficit that could grow to about $6 million by Dec. 31, 2009, if no cuts are made.

The city is planning to reduce its work force by about 60, or possibly more, by July 1.

The city is looking to make cuts, but administration officials acknowledge layoffs are needed.

The early-retirement incentive is part of a long-term plan to help keep down salary and benefit costs, Bozanich said.

Bozanich had initially expected about 40 city workers to take the buyouts. But the additional retirees help lower the city’s long-term expenses for salary and benefits, Bozanich said.

“The more the merrier,” he quipped.

Over a 10-year period, the city could save between $3 million and $6.5 million depending on what is done with the positions held by those who retired early, he said.

Those eligible for the incentive were employees age 60 or older with at least five years’ experience working for the city, those at least 55 years old with 25 years of service, or anyone with at least 30 years working for the city. Police officers and firefighters weren’t eligible to retire early under this program.

skolnick@vindy.com