Laserfiche WebLink
HANDOUT AT MEETING - 2024-7 - COMPENSATION PROPOSAL SUBMITTED BY CHAIR DIETZ <br />New ERMU Compensation Plan <br />7/2/24 <br />• New plan takes effect 1-1-25 <br />• Employees will slot into the same step they are on the old plan. You <br />shouldn't have to lose time in service years when slotting into the new <br />plan. For example if you are making $75,000 and you are currently at <br />step 5 and the new plan says that wage puts you at Step 3, you are going <br />backwards and are not getting credit for your longevity. <br />• Use the Market "Stay on Current Step" 7 step plan <br />• Add $150,000 line item to 2025 budget and $150,000 line item to 2026 <br />budget for additional wages in new compensation plan <br />• Employees will increase 1/2 step in 2025 and %2 step in 2026 essentially <br />making it an 8 step plan. This would give us time to afford the increase. <br />Even with a V2 step (approximately 2.5% increase), cost of living <br />increase (assume 4%) and 2025 UPMIC (assume 3%) that would still <br />result in an overall increase of just under 10%. <br />• UPMIC would be paid to all in spring 2025. <br />• Change rules for UPMIC in 2025 affecting years starting in 2026. <br />Starting with 2026 only employees who have spent one full year in the <br />final step of their pay plan would be eligible for UPMIC. This would <br />allow senior employees to receive more than just the COLA if they <br />have used up all the steps of the pay plan. Those that are not at the top <br />step are still receiving large yearly increases with the step increase and <br />the annual COLA. <br />• Keep the current Longevity Plan in place starting with payouts after <br />eight years of employment. <br />