Retirement Incentive on Chopping Block

Summerville Town Council is expected to vote to repeal a retirement incentive, originally deployed as a cost-saving measure, during its regular meeting at 7:30 p.m. on Wednesday at the town's . 

To see what else is on Wednesday's agenda, see the document attached to this story. 

According to Mayor Bill Collins, the "unfunded mandate" has cost the town $244,000 this year alone. 

Introduced in recent years, the town's policy offered health insurance to retirees until they reached age 65. More than 10 town employees would be eligible for the retirement incentive, which requires the employee to have been on town salary for at least 20 years.

"It didn't turn out that way (to save the town money)," Collins said on Monday during the council's regular meeting of the finance committee. 

Mount Pleasant is interested in changing its retirement package as well. 

Most of the council members voiced their opinions in favor of cutting the incentive out of town policy, which would be effective on Dec. 31. On Wednesday, the council will vote on the measure. 

Bailey, who originally voted for the enactment of the policy, said he was in favor of removing the policy.

"I don't think we can afford it. I thought we could before," he said.

Town Fire Chief Marc Melfi, who qualifies for the incentive and is retiring in November, said the incentive allowed him to retire with the cost of health insurance, but "my decision wasn't based on that alone." 

Any town employee that has retired before Dec. 31 will still be allowed to keep his or her health insurance.