Laserfiche WebLink
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-6 0-95 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON COMMITTING TO ADOPTION OF NEW <br />RESOLUTION ESTABLISHING NEW WINDOW OF TIME <br />FOR ELIGIBLE EMPLOYEES TO ELECT TO RETIRE <br />EARLY UNDER THE "GOLDEN HANDSHAKE" PROGRAM <br />WHEREAS, the City Council on May 2, 1995 adopted Resolution No. R-35-95 which <br />established a "Golden Handshake" program pursuant to the provisions of Government Code <br />Section 20821.6 and regulations promulgated by PERS enabling certain eligible employees to <br />take early retirement and be credited with up to four years additional service so long as such <br />employees elect to retire on or before June 30, 1995; and <br />WHEREAS, it has come to the attention of the City Council that certain eligible <br />employees who are essential to the efficient operation of City government are willing to take <br />early retirement on or before December 31, 1995 but are electing to take such retirement prior <br />to June 30, 1995 in order to take advantage of the "Golden Handshake" program and that the <br />City will be significantly disadvantaged if such employees retire prior to completion of the <br />election cycle for 1995 which ends in December of 1995; and <br />WHEREAS, it has also come to the attention of the City Council that under PERS <br />regulations, the City may not simply extend the provisions of the current "Golden Handshake" <br />resolution but must adopt a new resolution no earlier than September 2, 1995 in order to create <br />a new window of time during which eligible employees may elect to retire early and receive up <br />to four years additional service credit; and <br />