Carrollton city government is considering cutting the employee retirement vesting period from the current ten years to five.
On Thursday, City Manager Tim Grizzard said it would be a minimal financial investment for the city and would help retain employees.
“We had some fireman leave last year. There were three of them that I spoke to. One of them had been here for three years and said that he had to do seven more years to get anything. So if I am going to leave, I might as well leave now,” Grizzard telling Council.
The Georgia Municipal Association told Carrollton government officials that to move vesting years from 10 to 5, with the current roster, would cost the city an additional $23,000 annually. Grizzard said thatÂ’s a small price, considering the cost of training for new employees.
City staff continues to research pros and cons for the idea and compare it to other municipalities.
City Councilman Met Lane claimed the private sector on average offers 3 to 5 years for 401k availability.
Human Resources Director Faith Pullen said exit interviews show the vesting period is a concern for all city department employees, not just public safety.
To be effective for the current year, council would have to approve changes to the vesting period by the end of March.
