HomeMy WebLinkAboutRes1987-004
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Sponsored by: City Manaqer
CITY OF SEWARD, ALASKA
RESOLUTION NO. 87-004
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, RESCINDING RESOLUTION NO. 86-86 AND
AGREEING TO PARTICIPATE IN THE PERS RETIREMENT
INCENTIVE PROGRAM (RIP), CHAPTER 26, SLA 1986, AND
AUTHORIZING THE CITY OF SEWARD TO ENTER INTO AN
AGREEMENT WITH THE ADMINISTRATOR OF THE PUBLIC
EMPLOYEES' RETIREMENT SYSTEM (PERS) TO FUND THE
COST OF PARTICIPATION IN THE RIP
WHEREAS, the City of Seward, Alaska, finds it necessary
to reduce costs in this period of declining revenues; and
WHEREAS, the City of Seward id seeking ways to reduce
costs without have to layoff or terminate qualified employ-
ees; and
WHEREAS, the City of Seward is an employer in the
Public Employees' Retirement System (PERS) and eligible to
participate in the Retirement Incentive Program (RIP) under
Chapter 26, SLA 1986, which took effect on May 15, 1986;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF SEWARD, ALASKA, that:
Section 1. For the purposes of Chapter 26, SLA 1986,
the Retirement Incentive Program, the City of Seward is
designated as eligible to participate in the RIP and all
eligible employees in the unit may participate in the RIP if
they so elect.
Section 2. Through its participation in the RIP, there
will be an overall personal service cost savings to the
employer sufficient to fund each eligible employee's par-
ticipation in the program.
Section 3. It is understood that the total cost for
designating the City of Seward as eligible to participate in
the RIP is $175,413.00 (prior to final adjustment) and must
be paid to the PERS within three (3) years.
Section 4. It is understood that an administrative fee
of $578.86 (.33% of the total cost in No. 3 above) will be
paid to the PERS within 30 days of the signing of the
agreement.
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 87-004
Section 5. Ronald A. Garzini, City Manager of the City
of Seward, is authorized to enter into a financial agreement
with the PERS to implement the RIP and to commit employer
funds for the cost of the program.
Section 6. City of Seward Resolution No. 86-86 is
hereby rescinded.
Section 7. This resolution shall take effect immedi-
ately upon its adoption.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, this ~ day of January , 19~.
THE CITY OF SEWARD, ALASKA
AYES:
NOES:
ABSENT:
ABSTAIN:
BOOHER, DUNHAM, GIESELER, HILTON, NOLL & SIMUTIS
NONE
MEEHAN
NONE
ATTEST:
APPROVED AS TO FORM:
HUGHES, THORSNESS, GANTZ,
POWELL & BRUNDIN, Attorneys
for the City of Seward, AK
7/'<-tf1 1/1 d~~
Fred B. Arvidson
City Attorney
(City Seal)
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