Auburn offering retirement incentive to city employees in attempt to balance budget - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Health/Employee Benefits News
Newswires RSS Get our newsletter
Order Prints
April 29, 2025 Newswires
Share
Share
Post
Email

Auburn offering retirement incentive to city employees in attempt to balance budget

Robert Harding, The Citizen, Auburn, N.Y.The Citizen

AUBURN — Eligible city employees are being offered a retirement incentive to help close a $2.8 million budget deficit in the 2025-26 fiscal year.

The Auburn City Council approved the retirement incentive at its meeting Thursday. Employees have two deadlines to apply for retirement and receive lump sum payments or credits for health insurance premiums.

If they notify the city of their intent to retire by May 17, they will be eligible to receive a $12,500 payment or $17,500 toward their health insurance premiums. The second deadline is July 18, with a lower lump sum payment ($10,000) or $12,500 in credits for health insurance premiums.

Auburn City Manager Jeff Dygert explained the incentive was introduced in 2014 and updated in 2017 when there were challenging budgets and the city sought to generate more savings.

"These things give us an opportunity, when employees take advantage of them, to typically replace folks with folks coming in the door at a lower salary and a different (health insurance and pension) contribution," Dygert said.

Employee salaries and wages are the city's largest expense. The proposed 2025-26 budget totals $50.8 million, with more than $26.2 million for salaries and wages.

More than 30 employees are eligible for the incentive, according to Dygert. City officials won't know until closer to the May 17 deadline how much will be saved.

Auburn City Comptroller Mary Beth Leeson told the City Council that the savings will depend on the employee and their position.

"If you've been in the same position for 30 years in the city, you're maxed out on longevity and maxed out on raises, as opposed to somebody who maybe has moved up over time and only been in their current position for a short time," Leeson said.

Other factors, including the employee's retirement plan or what tier they're in, will determine how much is saved through the incentive.

Leeson said her goal was to save about $300,000, but she is unsure if that target will be reached. She acknowledged that employees will consider whether it's the right time for them to retire and the impact on their families.

"They have to think about things like health insurance and all of that stuff, so I understand both sides of it and would not ever want to force somebody into retirement," Leeson added.

One employee who is on the verge of retiring will not be taking the incentive. Dygert announced in 2024 that he would retire when his contract expires this year. He will retire at the end of May.

Dygert confirmed in an email to The Citizen Tuesday that although he could be eligible for the incentive, he decided to retire before it was available and will not seek the payment.

The retirement incentive is one of the options for the city to close its budget gap, which has been reduced from $8.6 million to $2.8 million. Other alternatives include overriding the property tax cap and increased state aid.

"In the past, it's been relatively successful," Dygert said of the incentive. "We're hoping that will be the case here as well."

© 2025 The Citizen, Auburn, N.Y.. Visit www.auburnpub.com. Distributed by Tribune Content Agency, LLC.

Older

Eye On Illinois: Foster agencies concerned about changes to insurance coverage

Newer

2024 Annual Report

Advisor News

  • Succession planning: Building the future of your practice
  • From loss to security: Supporting widowed clients with life insurance
  • Plan now for lower Social Security benefits later
  • The conversation almost no advisor is having yet
  • Why advisors should offer retirement-longevity planning
More Advisor News

Annuity News

  • Empower Annuity Insurance Company of America Trademark Application for “EMPOWER WHAT’S NEXT” Filed: Empower Annuity Insurance Company of America
  • Industry pushes back on linking ‘financial strength’ to annuity illustrations
  • Sammons Enterprises & Sammons Financial Group Respond to Reports
  • The Manhattan Life Insurance Company Acquires Union Security Life Insurance Company of New York
  • Cayman Islands premier to meet with U.S. reinsurance regulators
More Annuity News

Health/Employee Benefits News

  • AmeriHealth Caritas Makes Strategic Investment in Deon Health
  • Report: 45,000 Wisconsinites dropped ACA health insurance after federal subsidies ended
  • 5 QUESTIONS AND ANSWERS ABOUT MEDICAID AND PROVIDER TAXES
  • Following changes to New York's Essential Plan, thousands remain uninsured
  • SEN. OSSOFF CALLS ON TRUMP ADMINISTRATION TO IMPROVE ACCESS TO MATERNAL CARE IN GEORGIA U.S. SENATOR FOR GEORGIA JON OSSOFF
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • Modern Woodmen board selects Shea Doyle as next president and CEO
  • New Influenza Study Results from University of Auckland Described (Risk Management In Deadly Times: the Us Life Insurance Industry In the 1918-9 Influenza Pandemic): Influenza
  • AM Best Assigns Credit Ratings to InEvo Re Ltd.
  • Life Insurance Awareness Month: Time to Reassess Your Coverage
  • U-Haul Holding Company Announces Twentieth Annual Virtual Analyst and Investor Meeting
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Classic Car Insurer OpenRoad Insurance Expands to 40 U.S. States in Two Years
  • How Aspire General Turned an Early Technology Bet Into Claims Automation at Scale with Kyber
  • Adjusto launches AI-Native contents claims services powered by its technology platform
  • URL Insurance Group Celebrates 40 Years of Service, Growth, and Industry Leadership
  • MassMutual Ascend Surpasses $2 Billion in Lifetime Advisory Annuity Sales, Reflecting Continued Momentum in RIA Channel
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet