Title
Chief Administrative Office recommending adoption of Resolution 309-2008 to provide a designated period for two years additional service credit for certain classifications in the Sheriff's Department; and Chairman be authorized to sign the required Certificate of Compliance for same; and adoption of Resolution 310-2008 to provide two years of additional County service credit for the sole purpose of retiree health insurance and allow for one (1) opportunity to changes health insurance programs. (Refer 11/4/08, Item 19)
FUNDING: General Fund.
Body
BUDGET SUMMARY:
Total Estimated Cost 2 Likely Takers $ 26,962
Funding
Budgeted $
New Funding $
Savings over 2 Years $ 675,381
Other $
Total Funding Available $
Anticipated Net County Savings $ (648,419)
Fiscal Impact/Change to Net County Cost: The estimated amount of net savings to the General Fund for FY 2008-09 is 64,898. Based on the Sheriff's commitment to leave the two positions vacant for two years the total estimated savings to the General Fund is $675,381.
Background:
In accordance with Government Code Sections 20903 and 7507, PERS requires a series of actions in order to provide an additional two years of service credit towards retirement.
The first action requires public notice of prospective costs. Government Code Section 7507 requires that the cost to provide this benefit be made public at a public meeting at least two weeks prior to the adoption of the Resolution. This public notice was provided to the Board on November 4, 2008, agenda item #19, Legistar File #08-1617.
Reason for Recommendation:
Position Elimination:
The second action requires adoption of a resolution that would provide additional service credit for eligible employees in a specified classification who retire during a designated window period. This resolution would provide two years additional service credit for up to nine employees in specified clas...
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