The County concluded negotiations with OSS on Monday, August 12, 2002 and OSS ratified the County's offer on August 28. The following summarizes the major elements in the Amendment to the Memorandum of Understanding: · Implementation of the 3% @ 55 retirement benefit effective January 1, 2003, contingent on reaching agreement with other Safety unions by November 8, 2002 or upon enactment of legislation enabling implementation of retirement benefit changes by individual bargaining units. · Implementation of the 3% @ 50 retirement benefit effective January 1, 2005. · Agreement by both parties to forego any other 2002 reopeners. · Agreement by the OSS that all represented employees will share in the cost of the enhanced retirement benefit at the rate of 2% in 2003, 3% in 2004 and 5% upon implementation of the 3%@50 benefit. |