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? After the transfer, the employees will become Orange County employees and all <br />components of the employees' compensation will be subject to the same changes in <br />salary and benefits as other Orange County employees. <br />Overall Objective <br />2 <br />While there are many similarities in the pay and benefits provided by the Town of Chapel <br />Hill and Orange County, there also are differences in the pay and benefits and the relative <br />level of employer contribution to these various benefits. The overall objective of the <br />"substantial equivalency" policy is to assure the Solid Waste employees are kept whole with <br />the transfer to Orange County. The plan described below reflects on-going discussions of <br />Town of Chapel Hill and Orange County staff. <br />Determination of "Substantially Equivalent" Compensation <br />To determine "substantially equivalent" pay and benefits, staff plans the following steps: <br />1. Benefits Comparison <br />Compare in detail the benefit provided and cost for each Town of Chapel Hill and <br />Orange County employee benefit. (Attachment 2 is the working list of the benefits <br />covered in this analysis.) <br />2. Benefits Calculation <br />a. Place a monetary value on each benefit provided by the Town and the County. <br />b. For each employee, calculate the total monetary value of the benefits provided by <br />the Town of Chapel Hill as compared to Orange County. <br />Example: Employee A. B. Jones, With 10 Years Town Service, <br />Employee Only Health Insurance Coverage and a Town Salary of $25,000 <br />Benefit (See <br />Attachment 2) Town County <br />401(k) Plan Contribution $1,250 $390 <br />Health Insurance $2,201 $2,399 <br />Dental Insurance 0 $166 <br />Longevity Pay $650 $375 <br />Vacation Leave $1,923 <br />(20 days) $2,076 <br />(21.6 days) <br />ll Etc. $ $ <br />Grand Total (for <br />Benefits Shown only) $6,024 $5,406 <br />c. For employees for whom the value of the Town's benefits exceeds that for the <br />County's benefits, add to the employee's Town salary as of the transfer date the <br />dollar difference between the total monetary value of the Town and County benefits