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SUBJECT: POLICE MASTER PLAN WITH COMPENSATION AND BENEFITS <br />DATE: MAY 9, 2017 <br />PAGE 16 OF 17 <br />Option 3: Continue using existing Labor Market cities for Total Compensation process <br />and recommendation for 2018. <br />Estimated Cost: The 2017/2018 bi-annual budget includes funding for estimated <br />increases of 4% for salaries for general employees, including staff working less than 29 <br />hours per week, and 5% for Sworn Police Officer positions. <br />Option 4: Join the Public Employers Retirement Association (PERA) to enhance the <br />retirement benefit for all City employees. <br />Estimated Cost: $1.1 million annually <br />Option 5: Join the Fire, Police, and Pension Association (FPPA) to enhance the <br />retirement benefits for Sworn Officers. <br />Estimated Cost: About $102,000 annually, and increasing annually as wages <br />increase. <br />Option 5A. Add ONLY the Death & Disability Benefit from FPPA. <br />Estimated Cost: No cost if the City requires the employee to pay the entire 2.7% <br />contribution. If the City splits the contribution rate with the employee, the <br />estimated cost is about $35,000 annually. If the City pays the entire 2.7% <br />contribution rate, the cost would be about $70,000 annually. These amounts <br />would also increase annually as wages increase. <br />Option 6: Offer Sworn Officers an increase to the existing 401(a) plan with ICMA-RC <br />based on years of service to the City. <br />Estimated Cost: Implementing the years of service approach would increase the City's <br />costs by about $21,000 annually, with this amount changing as employees move <br />through the years of service, retire and new employees are hired, and as wages <br />increase over time. <br />Option 7: Continue to offer Sworn Officers the same benefits as all City of Louisville <br />employees. <br />Estimated Cost: The 2017/2018 bi-annual budget includes funding for a10% overall <br />increase <br />CITY COUNCIL COMMUNICATION <br />