Cincinnati’s Police union, the Fraternal Order of Police, released its list of endorsed candidates for City Council on Monday. Once again, the FOP endorsed Chris Bortz as one of only four incumbent City Council members recognized by the Order.
It’s actually probably one of the most important elections that we’ve seen…
- Kathy Harrell, FOP president
Chris Bortz has been endorsed by the Cincinnati Fraternal Order of Police in the last two Cincinnati City Council elections as well (2005 and 2007).
Current
401ks represent a less relevant retirement vehicle to younger employees
Little-to-no financial motivation is directly connected to performance reviews
Proposed
Same annual pool of money/profit distributed in the form of performance-based cash bonuses
Potential Structure (% up for discussion):
50% based on company performance
Fixed for all employees, based on company financial performance
25% based on department performance
Discretionary distribution based on departmental goals, both financial and non-financial
25% based on individual performance
Discretionary distribution based on individual performance review (progress/status reviewed semi-annually)
Open Questions:
Can bonuses be deposited into 401k pre-tax?
What happens to the vesting period?
Timing:
2010 – Enough time for people to be made aware of criteria, and administration to be put into place
