Fiscal Note
The proposed ordinance change will make Alders eligible for a series of benefits including WRS and health insurance. Alders opting to take these benefits will be required to submit time records to verify eligibility. Time records will be used to determine the full time equivalent of Alder positions. The annualized fiscal impact of this change will range between $100,000 and $220.000.
Health Insurance
Assuming all 20 Alders are a 0.5 FTE (20 hours/week) the annual health insurance costs will range from $80,000 to $200,000; this amount will vary based on the individual enrollment in family or individual plans.
WRS
Under the current WRS rates the annual impact of providing WRS benefits to Alders is $20,000. The 2017 Adopted Budget includes $10,000 for this expenditure assuming a partial year of enrollment.
Miscellaneous Benefits
Under the ordinance change Alders would also have access to deferred compensation benefits and dental insurance. Both of these benefits are fully paid by the employee and will have no impact on the City’s budget.
Title
Creating Section 3.09 of the Madison General Ordinances to codify the City of Madison Common Council benefits in the ordinances.
Body
DRAFTER'S ANALYSIS: This ordinance creates Sec. 3.09 of the Madison General Ordinances for the Common Council benefits. The benefits outlined in the ordinance are benefits alderpersons would be eligible for under State law. If the alderperson meets the requirement for enrollment, the City must enroll them in Wisconsin Retirement System (WRS), and additionally they would be automatically eligible for health insurance if they choose to select it. Because these benefits are mandated by State law, they were placed in a new section rather than in the description of the Council in Sec. 3.01 or salaries in Sec. 3.50, MGO.
***********************************************************************************
The Common Council of the City of Madison do hereby ordain as follows:
...
Click here for full text