THE CHIEF-LEADER welcomes letters from its readers for publication.
Correspondents must include their names, addresses and
phone numbers. Letters should be submitted with the understanding
that all correspondence is subject to the editorial judgment of this
newspaper. Letters can be e-mailed to: RSTEIER@RCN.COM or
mailed to: Richard Steier, Editor, 277 Broadway, Suite 1506, NY, NY
10007.

Time Right for Buyouts

To the Editor:

Okay, the elections are over and here come the doomsday scenarios regarding increased taxes, layoffs, cuts in service, pension reform, furloughs, etc.

Both the unions and the city sat on their hands doing very little leading up to the election. Obviously some form of job cuts/furloughs will be used to negotiate a new Tier 5 pension plan.

With the obvious need to cut government spending and reduce costs, why is there no buyout plan offered to induce older workers to step aside? Given the current economic climate –poor job market, reduced deferred compensation savings and obvious slowing of the attrition rate–older workers need a big incentive to retire now. Several thousand workers leaving now would immediately (unlike Tier 5 savings) reduce payroll costs and minimize potential pain for younger workers.

This is a tried and proven cost-savings measure. Why is Mayor Bloomberg against such a plan? Are layoffs, furloughs and involuntary cuts more desirable than an early retirement plan targeted at older workers?

MARK SCHOENFIELD District Council 37 member