Scottsdale close to settling early-retirement bill
The Associated Press
Web Producer: Mo Olivas
PHOENIX (AP) - Scottsdale is close to settling a court battle with the Arizona State Retirement System over a nearly $3 million bill related to the city's early-retirement program.
Under a proposed settlement, Scottsdale will pay a reduced amount of $1.5 million.
Scottsdale had disputed the bill related to the cost of a controversial early-retirement program the city enacted nearly four years ago to save money and counteract the effects of the recession.
The city allowed 100 employees to retire early, giving them one week of pay for every year of service.
The payroll savings was estimated at around $13 million a year, including layoffs, until workers were replaced or salaries increased.
The Arizona Republic (http://bit.ly/TW4kOO) says the Scottsdale City Council is expected to approve the settlement agreement at its Jan. 22 meeting.gram the city enacted nearly four years ago to save money and counteract the effects of the recession.