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1 � <br /> CITY OF ST. ANTHONY DRAFT <br /> RESOLUTION 98-retire <br /> A RESOLUTION SETTING POLICY FOR EARLY RETIREMENT <br /> INCENTIVE FOR CITY OF ST. ANTHONY EMPLOYEES <br /> WHEREAS, the City of St. Anthony has considered a proposal for an early retirement <br /> policy for certain City employees; and <br /> WHEREAS, the City intends for any decision for such early retirement to be a voluntary <br /> act by the employee to be made in the employee's sole discretion; and <br /> WHEREAS, the City wishes to limit the period of time during which employees may elect <br /> to take such early retirement; and <br /> WHEREAS, the City is willing to provide certain post retirement medical insurance <br /> coverage for City employees electing such early retirement. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of St. Anthony <br /> as follows: <br /> 1. The policy shall apply only to full-time employees of the City who: <br /> (a) qualify for Public Employees Retirement Association ("P.E.R.A.") <br /> annuity payments as qualifying P.E.R.A. Basic or Coordinated <br /> Members, and <br /> (b) are age 55 or older on the effective date of the retirement, and <br /> (c) have completed 25 years of service as a full-time employee of the <br /> City on the effective date of the retirement. <br /> 2. The employee will be required to sign an election to take such early <br /> retirement, stating that the decision is the voluntary act of the employee <br /> made entirely in the employee's sole discretion. <br /> 3. Retirement must occur by October 1, 1998; however, the written decision to <br /> take the early retirement must be given by the employee to the City between <br /> June 1, 1998 through July 31, 1998. <br /> 4. The City's policy for early retirement must continue to be authorized by the <br /> State of Minnesota. If such authority is modified or terminated, the City's <br />