CC RES 93-042 RESOLUTION TO OFFER EARLY RETIREMENT INCENTIVES

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CITY OF ST. ANTHONY RESOLUTION 93-042 A RESOLUTION TO OFFER EARLY RETIREMENT INCENTIVES WHEREAS, Laws 1993, Ch. 192, authorizes cities to offer an early retirement incentive to certain long-service employees, and WHEREAS, The City of St. Anthony can benefit from a reduction of its work force by conserving scarce financial resources, and WHEREAS, the City of St. Anthony can make one of the two authorized options available at no direct cost to the city or its taxpayers. NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of St. Anthony: • 1. City employees who are eligible under Laws 1993, Chapter 192, and are covered under Minnesota Statutes Section 353.29 and 353.30, are hereby authorized to accept and receive the multiplier percentage increase authorized by Laws 1993, Chapter 192, Section 108, Subdivision 3(b). 2. It is not the intent of the resolution to authorize any hospital, medical, or dental insurance continuation benefit option for any city employees or former city employees. 3. Any vacancy created when an employee has taken an early retirement incentive as authorized by this resolution, shall be filled only after passage of a resolution or motion passed by the City Council in which the vacant position is described and the need to refill the position is stated. NOTE: 353.29 and 353.30 apply to basic and coordinated PERA members, not to members of PERA police and fire fund. Eligibility of the incentive program is limited to employees who have at least 25 years of combined service credit in any state pension plan or at least age 65 with at least one year of combined credit, are immediately eligible upon • retirement for an annuity, are at least 55 years old, and retire on or after May 17, 1993, and before January 31, 1994.