FY 23 Approved Budget Book

BENEFITS

ORIGIN/PURPOSE : This budget represents the share of expenses within the General Fund, Highways Fund, Water and Sewer Fund and Solid Waste Services to provide the following benefits to Harford County Government employees: PENSIONS To provide for payment of unfunded past service liability costs to the State Retirement and Pension Plans and for the Volunteer Fire Pension System. The County joined the new State Pension System for County employees July 1, 1999. During Fiscal Year 1983-84, the County and the three municipalities reached an agreement with the Harford County Liquor Board to pay the unfunded accrued liability on the Liquor Board's behalf over the next 38 years. Harford County's share of the liability is $6,500 per year. The Volunteer Firemen's Pension Trust (LOSAP) Fund was created January 31, 1975 by County legislative action and funded in 1981. Annually the County has an analysis prepared on the status of the Volunteer Firemen's Pension Fund. On January 28, 2008, the County Council of Harford County enacted, as amended, Bill No. 07-46 . This legislation lowered the age of eligibility for monthly Length of Service Award Program (LOSAP) pension benefits from 60 to 55 years, increased the burial benefit for qualified volunteers from $1,000 to $5,000 and allows the spouse, beneficiary or the estate of the volunteer to collect the death benefit. In addition, the legislation added that members with 25 years of service must have five continuous years of service to receive monthly benefits, and members who are 70 years or older with less than 25 years of service must have a minimum of 10 years of service of which five years are continuous to receive benefits. In order for a spouse to receive 75% benefits following the death of a member, the member must have a minimum of 25 years of service at the time of their death. UNEMPLOYMENT INSURANCE The mandated cost to County government to pay those employees, deemed eligible, who have terminated County service and who have filed for unemployment compensation.

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