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Chief Administrative Office and Human Resources Department recommending the Board authorize the Director of Human Resources, with concurrence of the Chief Administrative Officer, to review and approve departmental requests to allow approved Phase 2 Retirement Incentive Plan applicants to extend their retirement date to no later than September 30,2026 to allow eligible employees to complete important fiscal year-end close and property tax roll preparation duties.
FUNDING: Retiree Health Fund.
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DISCUSSION / BACKGROUND
On September 16, 2025, with Legistar file 25-1498, the Board approved the Retirement Incentive Plan (Plan). The Plan aims to reduce salary and benefits expenditures by offering an opportunity for attrition through a voluntary separation incentive. The Plan in its simplest form provides as follows for those approved participants:
-If the participant retires from County service no later than December 31, 2025, they will receive $2,500 per year of full-time equivalent service, not to exceed $50,000 deposited into a Health Reimbursement Arrangement (HRA) account.
-If the participant retires from County service after December 31, 2025, but no later than June 30, 2026, they will receive $2,000 per year of full-time equivalent service, not to exceed $50,000 deposited into an HRA account.
The Plan is open to County employees, excluding elected officials and extra help, who have at least 5 years of continuous County service, and who are eligible to retire through CalPERS. Approved participants will be required to sign an Agreement and Release of Claims related to their voluntary participation and separation.
Post retirement, participants can request reimbursement of qualified medical expenses and/or medical insurance premiums from the HRA, which in addition to the one-time contribution, accrues investment earnings; participants currently have 30 investment options within the HRA.
The application period was open from 8:00 a.m. on Monday,...
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