A quarter of the city's employees are likely to retire within the next five years.
In 2011, 25 employees are expected to end their service to Wauwatosa. Within the next five years, 112 employees are expected to retire, according to a report by Michael Loy, city health and productivity coordinator.
This follows a decade that saw 134 retirements.
The Employee Relations Committee on Tuesday postponed discussion about retirement trends due to time constraints, but the topic could be back on the table in two weeks.
At this time, 38 Wauwatosa employees meet full retirement eligibility for the state retirement system. Another 78 employees could retire early and receive a reduced benefit, an option few people choose.
Retirements have financial ramifications for the city, accounting for about a quarter of the city's health care expenses, City Administrator James Archambo said. The city pays up to 110 percent of the previous year's premium for employees hired prior to 2008 who have worked here at least 15 years and have reached age 50 (police and fire employees) or 55 (other employees).
For employees hired after 2008, the most the city pays 50 percent of retiree health insurance premiums.
On average, police and fire retirees are on the city's health insurance for 10 years, while other city retirees generally get the benefits for five years. The benefits cease when retirees become eligible for Medicare.
At a glance
Average age and years of service at retirement by employment broup
AFSCME: average years of service, 29.1; average retirement age, 58.8; number of retirees since January 2000, 29
Fire supervisors: 28.3, 54.1, 3
Fire union: 28.5, 54.1, 35
Nonrep: 22.8, 60.6, 20
Police union: 31.7, 55.6, 13
OPEIU: 23.6, 60.2, 20
Police supervisors: 30.8, 54.8, 11
Your link to the biggest stories in the suburbs delivered Thursday mornings.
Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter Get the Newsletter!
- Wauwatosa police search for armed bank robbery suspect
- Tosa letters to the editor: Destination Imagination
- Wauwatosa Meetings: Aug. 6
- Wauwatosa Weekly Planner: Aug. 6
- Wauwatosa Things to Do: Aug. 6
- Wauwatosa Senior Meals: Week of Aug. 10
- J. Crew Mercantile to open store at The Mayfair Collection (1)
- Art gallery featuring work of at-risk youth opens in Wauwatosa
- Wauwatosa Senior Meals: Week of Aug. 3
- Wednesday house fire causes $100,000 in damage to Tosa home