Mecklenburg County will immediately suspend employee 401k match contributions to offset weakening sales tax revenue, County Manager Harry Jones said today.
The move will save $1.4 million by July, Jones said. That will make up for shortfalls the county calculated after receiving declining March sales tax receipts.
Jones called it "highly likely" he will recommend extending the suspension of the match through the next fiscal year, which starts in July.
The move affects all Mecklenburg County employee deferred compensation accounts except for sworn law enforcement officers. Local governments are required by state law to provide a 5 percent contribution to their accounts, Jones said in a news release.
Click here for the full statement.
Suspending the county match does not affect employees' base pay or take home pay. Nor will it change the amount employees are voluntarily contributing to their accounts.
- Doug Miller
Friday, April 16, 2010
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14 comments:
Well,
I guess It doesn't really affecting at all.
I hope you will be resuming soon!
:)
And he still authorizes $5,000,000 for taxis for DSS?
DSS spends 5 million a year on taxis? If that is true, Jones' head should roll.
..DSS spends 5 million a year on taxis? If that is true, Jones' head should roll...
Yes true. It took a Freedom of Information request to get it though. DSS and Harry are hiding a lot.
Additionally, CMS sepnt over $55k last year transporting one child, not a special needs child. Not a magnet program either.
If CMS is paying for a taxi to take kids to or from school, that is reprehensible!
Why do we have school buses, then?
Why does CMS have school buses?
Mostly to stir up racial division in the name of "fairness."
i do hope Jones has the moral compass to not accept any sort of bonus next year.
oh, who am i kidding...
He should have done this last year, my private company did in fall of 2008 and are now matching again. 401k match is a great benefit but not promised to anyone. Harry Jones can do no right in the eyes of some people. They should be honest about why. If the DSS taxi expenditures is true, go to an open forum and ask for justification. Otherwise complaining on a blog he doesn't read is just ineffective. Charlotte has weathered the recession better than most. It's not Jones fault if city and county leadership put all their eggs in Bank of America and Wachovia baskets for decades. Let's diversify our businesses for gooodness sake. Even Concord has been working to do so. 10:19 pm is making this blog about race? Give me a break already world class city charlotte. Despite all the teabagger coverage, racism is still for stupid people.
Someone said that Charlotte has weathered these times better than most. I keep reading and hearing this, but he #'s don't support this.
WE have 13% unemployment today and about 1,000 local gov workers about to lose their jobs on June 30th, thus make that 14%. Hear ye hear ye, the national average is about 3% lower than 13%.
So how are we weathering this better than most?
We are not, we are doing worse. Just look at the #'s. Look at Raleigh and nearby Atl and again, we are doing worse. Stop the spin.
There is a non-special needs student at South Mecklenburg High School that is taxied to and from school by herself everyday. One end of the county to the other. Ridiculous!
Don't forget all of Harry's mandated diversity training for employees. I bet a fortune was spent on that. Fire him now!!!!
The $5 million DSS "spends" on taxis is pass-through funding from the state of NC. It comes out of the state's Medicaid transportation funding, not from County coffers. It pays to transport many elderly and disabled citizens who are unable to be transported by other means (yes, they have to be determined to be eligible for this service based on their age or disability) for doctor's appointments for serious conditions such as dialysis treatments.
"Suspending the county match does not affect employees' base pay or take home pay."
There have been more and more stories like this cropping up over the past year. I think some cities in California are doing more than cutting 401k matching. There are some city employees getting actual pay cuts, and some are even getting laid off. Everyone's tightening their belts, I guess the cities and counties should have to, as well.
You said: "Mecklenburg County will immediately suspend employee 401k match contributions to offset weakening sales tax revenue, County Manager Harry Jones said today."
This is kind of sad, I always felt that the 401K match contributions are a great way to give back and help other people, but I guess times are tight right now. Do you know if this is happening in other districts?
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