Tuesday, August 14, 2018

City of Lake Worth's Employee Insurance

We always hear about the generous benefits working for the city of Lake Worth. Public employees receive total compensation packages that are 25 to 46 percent higher than private employees with comparable skills and experience and they work less hours. [Yankee Institute] Even salaries are higher in many cases compared to the private sector. It's a great gig to work for a municipality today.

The City's medical, dental, vision, EAP, COBRA and life insurance is insured primarily through Cigna Health.

The annual proposed renewal premium for 2018/2019 will be $3,561,967, up 7.2%. At 350 employees (number of employees confirmed by Lake Worth's Human Resources Department), that comes to $10,177.05 a year for each employee.

Not included in this figure are those who get car allowances, travel expenses, vacation and sick pay, contribution to a 401k retirement fund for managers that amounts to 10% of employee's yearly salary. Regular employees participate in a Defined Benefit Retirement Plan and the City's contribution is defined by Federal Statute or regulation.

2 comments:

Anonymous said...

Message we should be drilling into our kids heads every waking moment of their day- GET A GOVT JOB !!!!

Weetha Peebull said...

Unfunded liabilities...
as if there will be a retirement 'package'!