Normal will offer buyouts to some employees - 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
Newswires
Newswires RSS Get our newsletter
Order Prints
September 19, 2017 Newswires
Share
Share
Post
Email

Normal will offer buyouts to some employees

Pantagraph (Bloomington, IL)

Sept. 19--NORMAL -- The clock is ticking for 18 town of Normal employees.

Eligible Normal workers have until mid-October to decide if they'll take an early retirement incentive intended to help the town fight a budget shortfall after the Normal City Council approved the program Monday.

Eligible employees are in pay grades 30 to 40 -- the lowest at the town, including receptionists, custodians, educators and librarians who make less than $57,000 annually; have 15 years of service as of Dec. 31, 2018; are at least 55 years old on that date; and are eligible to receive a state pension.

Members of the town's police and fire unions aren't eligible.

The incentive includes a year of single health insurance or six months for a couple, as well as a lump sum payment of $500 per year of service up to $12,500 if the employee retires by March 31, or $250 per year up to $6,250 if the employee retires by Dec. 31, 2018.

The council did not discuss the program before voting on it despite questions about it from two members of the public who commented Monday night.

"I do not want to see any employees early retired or terminated in any way," said Ron Ulmer, a Normal resident and frequent critic of town spending. "Will this early retirement increase the town's future pension liability?"

City Manager Mark Peterson said after the meeting the program will not affect the town's pension costs.

Ulmer and Marc Tiritilli also questioned the council's executive session for property acquisition on Monday's agenda. Both said the town should stop considering paying to use the Fairview Building, which the county owns and might demolish, and buying property for the future "Uptown South" district in light of the budget shortfall.

Peterson said he can't comment on the subject of an executive session, but the town is unlikely to pursue the Fairview Building, which is a now-vacant property next to McLean County Nursing Home, or to buy property for the expansion of uptown redevelopment south of the railroad tracks before April 1 even though the town has budgeted money for it. No decision has been made on either project.

Town officials hope 10 employees will take the incentive, freeing their positions for lower-paid employees or elimination. Normal faces a budget deficit of more than $1.2 million for its next fiscal year, which starts April 1.

In other business, the council approved:

--Eliminating a railroad crossing on Maple Hill Road. Peterson said the road is already closed there, so traffic will not be affected. The Illinois Commerce Commission and Norfolk Southern Railroad will pay the town a combined $35,000 for vacating the crossing, and the town will spend $10,000 on the project.

--Appointing Dave Shields to Normal Planning Commission to succeed Arlene Hosea, who resigned after she was elected to the Normal Township Board.

Shields has served as campaign manager for Mayor Chris Koos, who chooses planning commission candidates for the council to appoint.

Follow Derek Beigh on Twitter: @pg_beigh

___

(c)2017 The Pantagraph (Bloomington, Ill.)

Visit The Pantagraph (Bloomington, Ill.) at www.pantagraph.com

Distributed by Tribune Content Agency, LLC.

Older

IMPORTANT INVESTOR ALERT: Khang & Khang LLP Announces a Securities Class Action Lawsuit against Health Insurance Innovations, Inc. and Encourages Investors with Losses to Contact the Firm

Newer

Seven National Experts Coming to Illinois for Patient Safety Conference

Advisor News

  • Semi-retirement: helping clients balance flexibility with financial security
  • The 6X Formula for leveraging content marketing with AI
  • When a home becomes difficult to insure, the plan changes
  • The inheritance gap: Helping clients plan for money that hasn’t arrived
  • After the midterms: Addressing your clients’ tax concerns
More Advisor News

Annuity News

  • Athene CEO criticizes offshore reinsurance, risk-taking by competitors
  • DOL, trade groups, state AGs file briefs supporting Alcoa in PRT lawsuit
  • John Hancock launches new fixed indexed annuity suite
  • Annuities to play a larger role in workplace retirement plans
  • FHLBank Pittsburgh Announces Results in 2026 Board Election
More Annuity News

Health/Employee Benefits News

  • A 'critical service': Senior centers help local residents navigate complexities of Medicare coverage
  • Cost of employer-sponsored health insurance plans rises again, nonpartisan survey finds
  • Sen. Baldwin proposes lowering Medicare eligibility age to 50
  • SENS. OSSOFF CONTINUING PUSH TO BAN HEALTH INSURANCE COMPANIES FROM DENYING OR DELAYING NEEDED HEALTH CARE
  • Reed: Can this father be appointed child's guardian?
More Health/Employee Benefits News

Life Insurance News

  • AM Best Affirms Credit Ratings of Fubon Insurance Vietnam Co., Ltd.
  • Three lawsuits put life insurers’ cost-of-insurance practices under scrutiny
  • Military Briefs: November 12-18
  • Security Benefit Series B Preferred Stock Dividend Rate Resets to 10.286%
  • FHLBank Pittsburgh Announces Results in 2026 Board Election
More Life Insurance News

NEWS INSIDE

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

FEATURED OFFERS

Press Releases

  • Insurvoice Lets Independent Insurance Agency Owners Analyze Every Customer Call in ChatGPT or Claude
  • Spectrum Weather & Specialty Insurance Celebrates 15 Years and Welcomes the Next Generation
  • Royal Neighbors of America® Increases Service Capacity
  • Benefits Studio Launches to Fill the Missing Middle of Benefits Navigation at $49/mo
  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
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.