HomeMy WebLinkAboutDocumentation_Pension General_Tab 05_02/02/2009Prepared by: M Reid, HR Dir.
Date: 12/23/ 2008
SUMMARY OF RESPONSES TO COLA INCLUSION SURVEY- GENERAL EMPLOYEES PENSION FUND
A total of 25 responses were received from the 35 employees contacted (71 % response rate). There were 18 Females and 7 males, ranging from under 25 to over 60
years. Additionally, 32% of the employees responding, have been with the Village for between 5-8 years, while 68% have been employed for less than 5 years.
Table 1: Summary of Responses
YES NO No Res onse TOTAL Noteworth Comments
Should a COLA be added to the Pension 100% 0 0 100%
Benefit?
of employees willing to Contribute to 32% 68% 0 100% Response had no strong correlation with age or sex, however
funding the cost? (8) (17) 70% of persons with less than 5 years service were not willing to
contribute
Would adding COLA help to retain you? 40% 48% 12% 100% The employees in the 35-49 age range were the largest group
(10) (12) (3) indicating that the addition of the COLA would NOT help to retain
them (88%). On the other hand 75% of the persons over 50
indicated that the COLA would be a retention factor.
1 % 2% 3% 4% 5% TOTAL
of income employees willing to Contribute (of persons willing contribute) 2 3 3 - - 8 employees
Table 2: Individual responses sorted by Age (Names and departments omitted)
Years of Service Age Sex Wants COLA? Willin to Contribute? Contribution Amount COLA keep you here?
1. Under 5 ears Under 25 M Y N N/A Y
2. Under 5 ears Under 25 M Y N N/A N
3. Under 5 ears 25-29 F Y Y 3% Y
4. Under 5 ears 30-34 F Y N N/A N
5. 5-8 ears 30-34 F Y Y 2% Y
6. Under 5 ears 35-39 F Y Y 2% N
7. Under 5 ears 35-39 F Y N N/A N
8. Under 5 ears 35-39 M Y N N/A N
9. Under 5 ears 35-39 F Y N N/A NR
10. 5-8 ears 404 M Y N N/A Y
11. Under 5 ears 45-49 F Y Y 1% N
12. Under 5 ears 45-49 F Y N N/A N
13. Under 5 ears 45-49 F Y N N/A N
14. Under 5 ears 45-49 M Y N N/A N
15. Under 5 ears 459 F Y N N/A NR
16. 5-8 ears 50-54 M Y Y 3% N
17. 5-8 ears 50-54 F Y N N/A NR
18. Under 5 ears 50-54 F Y Y 1% Y
19. 5-8 ears 50-54 F Y N N/A Y
20. 5-8 ears 50-54 M Y N N/A Y
21. 5-8 ears 55-59 F Y N N/A N
22. Under 5 ears 55-59 F Y Y 3% Y
23. Under 5 ears 55-59 F Y N N/A Y
24. 5-8 ears Over 60 F Y Y 2% N
25. Under 5 ears Over 60 F Y N N/A Y