
City to Phase Out Post-65 Retiree Insurance for New Hires
In a move to curb long-term liabilities, the City Council discussed a resolution to change retiree health insurance benefits for future employees
Under the proposal, all current employees and retirees would be grandfathered into the existing system, which provides insurance coverage beyond age 65
However, anyone hired after October 1, 2026, would only receive city-funded retirement insurance until they reach age 65, at which point they would transition to Medicare
Additionally, the city plans to allocate 60,000 in the general fund to support grant-seeking efforts, 30,000 for grant application matches, and $30,000 for preliminary engineering and assistance
Officials say this "pocket of money" will allow the city to move more quickly on funding opportunities
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