At the next regularly scheduled City Council meeting this Wednesday, I have agendized a discussion on removing benefits for members of the City Council.
Currently, council members who receive all permissible compensation are allowed monthly benefits for their part time position totaling $1,378.47 in addition to a monthly stipend of $463.50. These benefits, if not used for the purposes of health insurance premiums, can be placed into a 457 retirement fund similar to a 401k totaling $66,166.56 for each four year term.
I, along with Council Member Steve Baric, have voluntarily opted out of receiving these benefits. This Wednesday, March 28th, the City Council will have the opportunity to begin the process of ending City Council benefits once and for all.