The City of San Angelo's estimated Early Retiree Reimbursement Program Savings are pictured below. They cover a two year period, June 1, 2010 to May 31, 2012. Data comes from several sources, city officials and national benefit consultants.
Holmes-Murphy (San Angelo City HR data)
Low -- $193,836
Expected -- $653,404
High -- $805,819
Hewitt Associates (national projections)
The five projections can be seen in the blue bars. The City will bank 80% of ERRP funds before sharing any savings with early retirees or employees. This is represented by the red bars.25% of early retiree plan -- $841,935$3,000 per retiree @250 under 65 retirees -- $750,000
There is "new money," contrary to Mayor New's assertion. The City is choosing not to use it until 2012.