News From Senator Joyce

For Immediate Release:����� Further Information:

March 13, 2002����� Marie Blanchard (617) 722-1643�

SENATOR JOYCE FILES EARLY RETIREMENT INCENTIVE BILL FOR MUNICIPAL EMPLOYEES�

Senator Brian A. Joyce is pleased to announce he has filed legislation providing an early retirement incentive program for municipal employees. �

Senator Joyce explained that as the former Senate Chair of the Public Service Committee, he filed the �local option� to address the need to reduce staffing levels by providing viable early retirement incentives for municipal employees while at the same time, realizing significant cost savings during these uncertain economic times.�

�This is a win-win situation for long-time employees opting for retirement, for the remaining staff, and for the taxpayers,� said Senator Joyce.�

Senator Joyce�s legislation will protect municipal budgets by setting strict vacation and sick leave buyback rules, and by requiring municipalities to establish a maximum number of people who can take early retirement. The legislation would curtail municipal payrolls over the next two fiscal years, and avoid unnecessary layoffs.�

�This legislation is compassionate and fiscally prudent,� said Senator Joyce. �The bill protects younger workers by vacating top positions rather than reducing lower level employees as is the norm during budget crunches.��

Eligible employees would be able to apply for early retirement until November 1, 2002. Retirement dates would vary amongst eligible employees.�

Senator Joyce wrote a similar early retirement incentive bill for state employees in December, which to date has averted thousands of layoffs and is expected to save taxpayers $40 million in the current fiscal year, $175 million in FY03, and $175 million in FY04.�

Senator Joyce added that there was a pressing need to pass similar legislation for municipalities, many of which are anticipating increasing financial pressures due to declining tax revenues.�