Number
191445
Version
ORIGINAL
Reference
190001
Sponsor
ALD. COGGS, LEWIS AND STAMPER
Title
Resolution relating to studying the impacts of employee turnover on pension funding and liabilities.
Analysis
This resolution directs the Department of Employee Relations, the Employes’ Retirement System and the Budget and Management Division to collaboratively investigate and report the impacts of employee turnover on the City’s pension funding and liabilities.
Body
Whereas, The 2020 Adopted Budget includes a Common Council-added footnote (Amendment 29) directing the Employee Relations Director to collaborate with the Employes’ Retirement System and the Budget and Management Division to investigate and report the impacts of employee turnover on the City’s pension funding and liabilities; and
Whereas, The City currently experiences an average of 141 retirements and 148 resignations annually; and
Whereas, Approximately 69% of employee resignations take place within the employee’s first five years of employment; and
Whereas, In 2018, there was a 10% increase in City employee resignations compared to 2017, and the Department of Employee Relations projects a 25% increase in City employee resignations in 2019 relative to 2018; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Employee Relations Director shall collaborate with the Employes’ Retirement System and the Budget and Management Division to investigate and report the impacts of employee turnover on the City’s pension funding and liabilities; and, be it
Further Resolved, That the Director of Employee Relations, the Employes’ Retirement System and the Budget and Management Division shall report their findings to the Common Council within 120 days of adoption of this resolution.
Requestor
Drafter
Dana Zelazny
LRB175647-1
December 10, 2019