Laserfiche WebLink
AZ°16) ( P <br /> • <br /> • o.` , • 411 <br /> )!PFR44.4, eaW4g1 <br /> MEMORANDUM RANCHO PALOS VERDES <br /> c,F <br /> HONORABLE MAYOR & MEMBERSTO: ii'''.Tt . C L <br /> FROM: <br /> ASSISTANT CITY MANAGER <br /> JANU RY 11, 1993 <br /> DATE: <br /> SUBJECT: <br /> PERS AMENDMENT - 2 YEARS ADDITIONAL SERV <br /> RECO A PION:Adopt Ordinance No. 2 8 3 amendingthe co- rac ,- tween the C' t `of <br /> p ��� � <br /> Rancho Palos Verdes and the Board of Administration of the <br /> California Public Employees' Retirement System (PERS) to <br /> authorize the Two-Years Additional Service Credit. <br /> BACKGROUND: <br /> Government Code Section 20818 allows the Public Employees' <br /> Retirement System to provide a Two-Years Additional Service <br /> Credit amendment to participating PERS agencies. The contract <br /> amendment would provide potential retirees with an additional <br /> service credit if they retire during a window period of ninety <br /> (90) days in a budget year affected by layoffs or reductions in <br /> force. The additional service credit would enable an employee to <br /> retire earlier than anticipated, thereby creating a reduction in <br /> force without layoff and achieve some salary savings over time. <br /> In order to be eligible for retirement under the additional <br /> service credit provisions, a person must have at least five (5) <br /> years of service credit and be at least fifty (50) years old. <br /> ANALYSIS: <br /> To meet the criteria of Government Code Section authorizing the <br /> early retirement amendment, a permanent vacancy must be <br /> maintained by the City as a result of a person retiring in the <br /> designated window period, although the permanent vacancy need not <br /> be the position from which the person retires. The permanent <br /> vacancy could be any position within the same job series as long <br /> as it is eliminated from the budget during the fiscal year in <br /> which the amendment is adopted. In the City's case, the Two- <br /> Years Service Credit could be made available to employees within <br /> the staff assistant (clerical) series, since a Staff Assistant I <br /> position in the Environmental Services Department has been <br /> eliminated during this fiscal year due to the financial condition <br /> of the City. <br /> Should the Council adopt the Ordinance No. 283 this evening, the <br />