resident, ratepayers are now able to read the pertinent "Early Retirement Severance Agreement."
To entice the GM to leave earlier than his requested Mar 2015 departure, he was able to cash in
unused vacation (11.5 days or $8,286), sick leave (57.38 days or $41,339), which appears to be
normal HLP policy.
Note that HLP gave 8 sick days per year, for many years until it was 'returned' to 12 days last
year, for the 36 employees. There is now nearly $1 Million in UNFUNDED accrued benefits.
That total accrual of $49,623.06 was accumulated in his 7-8 years of employment with HLP. He was also awarded $150,000 in "severance" pay, $30,000 donation to his retirement fund
AND $4,780.08 for in-lieu-of health insurance payment. Provisions were made to allow him to
"use" up his 551 hrs of "2014 vacation and sick leave allotment to extend his retirement date
(for retirement pay purposes) until November - thereby increasing his retirement pay by over 3%.
|Vacation, sick hours||551||$90.06||$49,623.06|
|In-lieu of insurance||$1,593.36||$4,780.08|
retiring, he will be paid an additional $3,602.40 for not working on those
days, while on vacation.
What will Mr. Stewart, the now retired HLP GM, be required to do? Nothing!