HomeMy WebLinkAboutRes1991-102
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Sponsored by Sieminski
CITY OF SEWARD, ALASKA
RESOLUTION NO. 91-102
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 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, 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 Employer
sufficient to fund each elibible 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 $108,565.00, 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
$760.00, 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.
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 26th day of August, 1991.
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CITY OF SEWARD I ALASKA
RESOLUTION NO. 91-102
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THE CITY OF SEWARD, ALASKA
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David L. Hilton, Sr.
Mayor
AYES:
NOES:
ABSENT:
ABSTAIN:
Burgess, Hilton, Krasnansky, Sieminski & Simutis
None
Dunham & Meehan
None
ATTEST:
APPROVED AS TO FORM:
PERKINS COlE, Attorneys for
the city of Seward, Alaska
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inda S. Murphy, eM
City Clerk
(City Se&l)
Fre~A~d~
City Attorney
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