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    Mike Neiffer Public Comment

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    Al Leach
    This document outlines budget projections for 2015-2016 for the largest bargaining unit group. It estimates that the total projected increase in expenses for this group would be $1,428,000 or 8.07% of the current salary expense due to factors like residual salary from the expired contract, step movements, a 1% salary increase, projected healthcare and pension contribution increases. A 1% property tax increase would generate approximately $370,000 to help offset these added expenses.

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    Mike Neiffer Public Comment

    Uploaded by

    Al Leach
    46 views1 page
    This document outlines budget projections for 2015-2016 for the largest bargaining unit group. It estimates that the total projected increase in expenses for this group would be $1,428,000 or 8.07% of the current salary expense due to factors like residual salary from the expired contract, step movements, a 1% salary increase, projected healthcare and pension contribution increases. A 1% property tax increase would generate approximately $370,000 to help offset these added expenses.

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    This document outlines budget projections for 2015-2016 for the largest bargaining unit group. It estimates that the total projected increase in expenses for this group would be $1,428,000 or 8.07% of the current salary expense due to factors like residual salary from the expired contract, step movements, a 1% salary increase, projected healthcare and pension contribution increases. A 1% property tax increase would generate approximately $370,000 to help offset these added expenses.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    46 views1 page

    Mike Neiffer Public Comment

    Uploaded by

    Al Leach
    This document outlines budget projections for 2015-2016 for the largest bargaining unit group. It estimates that the total projected increase in expenses for this group would be $1,428,000 or 8.07% of the current salary expense due to factors like residual salary from the expired contract, step movements, a 1% salary increase, projected healthcare and pension contribution increases. A 1% property tax increase would generate approximately $370,000 to help offset these added expenses.

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    © All Rights Reserved
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    of 1

    2015-2016

    Budget Projections

    Largest Bargaining Unit Group

    Item

    Current PGEA Salary

    Approximate

    Expense

    Sub.

    2015-16 Budget Impact

    $17,700,000

    Residual Y3 salary in Y4

    $298,000

    1.68%

    0.81%

    Step Movement

    $580,000

    3.28%

    1.57%

    $100,000

    0.56%

    0.27%

    $96,000

    0.54%

    0.26%

    $354,000

    2.00%

    0.96%

    $1,428,000

    8.07%

    3.86%

    on Expiration

    (2015-16)
    1% Salary increase to top step
    (2015-2016)
    2015-16 Healthcare

    increase

    (increase of 2% annually)
    2015-16 extra PSERSContribution
    (increase 2% net)
    Projected increase in 2015-2016

    Present Approx.

    1% tax increase value

    $370,000

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