HomeMy WebLinkAboutRes1997-117
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 97-117
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ELECTING TO PARTICIPATE IN THE RETIREMENT
INCENTIVE PROGRAM AND AUTHORIZING THE CITY MANAGER TO
ENTER INTO AN AGREEMENT TO FUND THE COST OF P ARTICIP A-
TION 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, which took effect on July I, 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, the Program, the City of
Seward with the exception of elected officials is designated as eligivle to participate in the Program
and all eligible employees inn theUnit may participate in the Program ifthey so choose.
Section 2. Through its participation in the Program, there will be an overall 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 $80,762 (prior to final adjustments) and must be paid to the PERS
within three years.
Section 4. It is understood that an administrative fee of$807.62 (one percent of the total in
Section 3) and will be paid to the PERS within 30 days of the signing of the agreement.
Section 5. The City Manager is hereby authorized to enter into a financial agreement with
hte 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.
CITY OF SEWARD, ALASKA
RESOLUTION NO. 97-117
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this II day
of August, 1997.
THE CITY OF SEWARD, ALASKA
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Louis ^: Bencardino, Mayor
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AYES:
NOES:
ABSENT:
ABSTAIN:
Anderson, Bencardino, Blatchford, Clark, Crane, Keil, King
None
None
None
ATTEST:
f ~ -C_~.D-J ~. ~ eN'- (Lf
Patricia 1. Jones, CMC
Acting City Clerk
(City SeaL~\'>1~!IU.~"'tJ.
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