Title
Chief Administrative Office recommending the Board receive and file the notice of intent to provide two years of additional service credit benefits to specified classifications; and provide public notice in accordance with Public Employees Retirement System (PERS) requirements.
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BUDGET SUMMARY:
Total Estimated Cost $ 60,035
Funding
Budgeted $
New Funding $
Savings $342,254
Other $
Total Funding Available $342,254
Change To Public Health Fund $(282,219)
Fiscal Impact/Change to Net County Cost: The estimated amount of net savings to the Public Health Fund for FY 2008-09 is $282,219. There is no direct impact on Net County Cost.
Background:
At its March 4 meeting, the Board of Supervisors approved in concept the deletion of 13.75 positions in the Public Health Department at the conclusion of the Beilenson Hearing on April 1. The resulting reduction-in-force will most likely result in a number of lay-offs. I recommend the use of an early retirement incentive to eliminate positions so that the County can achieve long-term savings while avoiding the “bumping” that occurs in a reduction-in-force.
Through the early retirement program, the County would offer two years of additional PERS service credit to certain classifications of County employees who retire during a defined eligibility period between April 22, 2008 and July 24, 2008. Eligible employees who choose to retire during this period will also receive two years of additional County service Credits for the purpose of determining their eligibility for county-provided retiree medical benefits.
In accordance with Government Code Sections 20903.5 and 7507, PERS requires a series of actions in order to provide additional years of service credit towards retirement. The first action requires public notice of prospective costs. The second action requires adoption of a resolution implementing the additional service credit provi...
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