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CITY OF SEWARD, ALASKA
RESOLUTION 99-058
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ELECTING TO PARTICIPATE IN THE RETIREMENT
INCENTIVE PROGRAM (PROGRAM), CHAPTER 4, FIRST SPECIAL SLA
1996, AS AMENDED BY CHAPTER 92, SLA 1997, AND AUTHORIZING
THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH THE
ADMINISTRATOR OF THE PUBLIC EMPLOYEES' RETIREMENT
SYSTEM (PERS) TO FUND THE COST OF PARTICIPATION IN THE
PROGRAM.
WHEREAS, the City of Seward finds it necessary to reduce costs in this period of declining
revenues; and
WHEREAS, the City of Seward is seeking ways to reduce costs without having to layoff
or terminate qualified employees; and
WHEREAS, the City of Seward is an employer in the PERS and is eligible to participate
in the Program under Chapter 4, First Special SLA 1996, as amended by Chapter 92, SLA 1997,
which took effect on July 1, 1996.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. for the purposes of Chapter 4, First Special SLA 1996, as amended by Chapter
92, SLA 1997, the Program, the City of Seward is designated as eligible to participate in the Program
and all eligible employees in the Unit may participate in the Program if they so choose;
Section 2. through its participation in the Program there will be a personal services cost
savings to the Employer sufficient to fund each eligible employee's participation in the Program;
Section 3. it is understood that the total cost for designating the City of Seward as eligible
to participate in the Program is $169,422 (prior to final adjustments) and must be paid to the PERS
within three (3) years;
Section 4. it is understood that an administrative fee of$l ,694 (one percent ofthe total cost
in 3 above) will be paid to the PERS within 30 days of the signing ofthe agreement; and
CITY OF SEWARD, ALASKA
RESOLUTION NO. 99-058
Section 5. the City Manager of the City of Seward is authorized to enter into a financial
agreement with the PERS to implement the Program and to commit EMPLOYER funds for the cost
of the Program.
Section 6. This resolution shall take effect immediately upon its adoption.
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 10th
day of May, 1999.
THE CITY OF SEWARD, ALASKA
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Lowell R. Satin, Mayor
AYES:
NOES:
ABSENT:
ABSTAIN:
Blatchford, Callahan, Gage, King, Satin
None
Orr, Shafer
None
ATTEST:
(City Seal)