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Person County employees in North Carolina may be eligible for Early Retirement Incentive Program 2010-05-17 North Carolina's Person County Board of Commissioners are expected to vote on a measure that will allow local employees to enroll in an Early Retirement Incentive Program, according to the Roxboro-Courier newspaper. "The incentives being proposed include a one-time lump sum payment; payment of accrued annual leave up to a maximum of 240 hours and a full year of longevity pay in addition to the health insurance currently offered to retirees," county manager Heidi York told the newspaper. In an abstract, York wrote that the program would be voluntary to eligible employees and aims to "achieve efficiencies and cost savings" for the county as well as provide workers the chance to "transition into retirement," reports the newspaper. Employees must have 30 years of service in order to collect unreduced benefits from the program, the newspaper reports. Many companies and states are creating programs and initiatives to improve the retirement standards for seniors. Georgia, for example, has created a bill that will protect seniors from paying state income taxes on retirement assets.  |
