Current executive savings plan participants, previous payouts

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Current executive savings plan participants, previous payouts

The plan lets Dayton city government executives build credit hours for every month they work. The city supports the fund with twice-yearly payments of $50,000 that accrue interest for employees. The payments have been suspended.

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Executive savings plan payouts, 2006-2009

Payments to executives who left City of Dayton employment under the Executive Savings Plan from 2006 to 2009.

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Who is eligible

All city executives including city managers, department directors, police and fire chiefs, executive assistant to the city commission, along with secretary-chief examiner of the Civil Service Board. There are 17 employees enrolled in the plan.

How it works

Annual vacation is set at 20 days for all executives. That time must be used or lost annually, compared to 32 days typically accrued by long-standing employees. In exchange, executives initially get 40 credits hours deposited into the savings plan, which is equivalent to one week’s pay.
Executives who have worked their way through the ranks at City Hall get credit for any unused vacation time that was earned prior entering the plan, up to 240 hours. Unused sick leave is credited 2-for-1 on an hourly basis up to 540 hours.
Executives accumulate eight additional credit hours for each month they work.
Ohio law requires the city accept the transfer of credits from unused sick leave brought by a new hire who previously worked for an entity within the Ohio Public Employee Retirement System. Those hours are added to the executive savings plan.
When a employee resigns, retires, is laid off or gets fired, they receive a cash payout, plus interest, not to exceede a maximum of one year’s salary.