Because of the pandemic, Moline is offering employees extra incentives to retire to help make up for declining revenue.
On Tuesday night, the city council approved the Voluntary Retirement Incentive Program for employees who are 55 and older, with at least 20 years working for the city.
Those who volunteer to retire early will receive a cash payment equal to half their annual salary. And they may keep their health insurance for up to two years by paying 20% of the premiums.
The loss of revenue is due to the coronavirus and lockdown. The early retirement program should help Moline reduce costs while maintaining operations and services.
