KEARNY - The 118 members of the Kearny police force will hold on to their jobs after agreeing to give up overtime and to instead receive comp time or time off.

Under the agreement, the officers slated for layoffs have agreed to forgo a raise next year. The deal also eliminates the need to demote 19 officers.

Officials say the overtime adds up to about $1 million in savings. They say four officers will retire and the chief will cut $300,000 for his operating budget.