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CITY OF SEWARD, ALASKA
RESOLUTION NO. 89-133
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, AUTHORIZING THE CITY'S PARTICIPATION IN THE
STATE OF ALASKA'S PUBLIC EMPLOYEES' RETIREMENT SYSTEM
RETIREMENT INCENTIVE PROGRAM
WHEREAS, the city of Seward finds it desirable to reduce costs
in this period of declining revenues; and
WHEREAS, participation in the Retirement Incentive Program
will reduce costs without having to layoff or terminate employees;
and
WHEREAS, the city of Seward is an employer in the Public
Employees' Retirement System and eligible to participate in the
Retirement Incentive Program under Chapter 89, SLA 1989, which took
effect on June 2, 1989;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. For the purposes of Chapter 89, SLA 1989, the
Retirement Incentive Program, the city of Seward and Seward General
Hospital, with the exception of elected officials, are designated
as eligible to participate in the program, and all eligible
employees who meet the requirements may participate in the program
if they so choose;
Section 2. Through its participation in the program, there
will be an overall personal services cost savings to the city
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 Two Hundred Sixty Four Thousand, One Hundred Sixty Two
Dollars ($264,162), 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 One
Thousand Eight Hundred Forty Nine Dollars and Thirteen eents
($1,849.13), which is .7 percent of the total cost in Section 3,
will be paid to the PERS within thirty (30) days of the signing of
the agreement.
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 89-133
section 5. The city Manager is authorized to enter into a
financial agreement with the PERS to implement the program and to
commit Employer funds for the costs 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 23rd day of October, 1989.
THE CITY OF SEWARD, ALASKA
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W1Tliam C. Noll, Mayor
AYES:
NOES:
ABSENT:
ABSTAIN:
Dunham, Noll, Sieminski, Simutis
Burgess,
None
Meehan
Hilton
ATTEST:
APPROVED AS TO FORM:
PERKINS COlE, Attorneys for
the city of Seward, Alaska
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Fred B. Arvidson
City Attorney
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(City Seal)
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