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HomeMy WebLinkAbout1993-120 CCR1 1 Member Celia Scott introduced the following resolution and moved its adoption: RESOLUTION NO. 93 -120 RESOLUTION AUTHORIZING A STATE OF MINNESOTA APPROVED TEMPORARY EARLY RETIREMENT INCENTIVE PROGRAM WHEREAS, the Minnesota State Legislature has passed the Early Retirement Incentive Act (Chapter 192, Laws of 1993) granting cities and other political subdivisions the option to establish a uniform program to provide medical coverage and increased retirement annuities to encourage individuals to retire; and WHEREAS, the City of Brooklyn Center desires to provide employees who meet the State imposed requirements incentive for taking an early retirement. WHEREAS, the eligibility requirements which the State imposes on the City are as follows: a. the program is optional, but if offered, must be open to all eligible employees. b. the program shall consist of: Option 1. An increase in the pension formula of 1/4 percent for each year of service up to the first 30 years at no cost to the city. Option 2. Employer paid health insurance for employees who are between ages 55 and 65. The employee must choose one of the above options unless the employer paid health insurance was available before this legislation was passed, in which case they may choose both. c. The City cannot hire a replacement for a person who retires under this program until June 30, 1995, unless the City Council takes action to specifically authorize the hiring of a replacement for that position, and WHEREAS, the eligibility requirements which the State imposes on the employee are as follows: a. be a contributing member of PERA's Basic or Coordinated pension plans. b. terminate public employment on or after May 17, 1993 but before January 31, 1994. 1 1 RESOLUTION NO. 93 -120 c. be immediately eligible to draw a PERA pension upon termination of employment. d. be age 55 or older with at least 25 years of service in one or more qualified Minnesota public pension plans. e. be age 65 and have at least one year of service in one or more qualified Minnesota public pension plans. f. submit a completed Application for Retirement and Certificate of Early Retirement to PERA by January 30, 1994. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn Center that the early retirement incentive program be established according to the provisions of the State of Minnesota Early Retirement Incentive Act (Chapter 192, Laws of 1993) July 26, 1993 Date 1 ATTEST: 54gYL6'2 dam{ Deputy Clerk /"Ki-e Todd Paulson, Mayor The motion for the adoption of the foregoing resolution was duly seconded by member Kristen Mann and upon vote being taken thereon, the following voted in favor thereof: Todd Paulson, Celia Scott, Barb Kalligher, and Kristen Mann; and the following voted against the same: none, whereupon said reso]ution was declared duly passed and adopted.