2003 AGN FEB 04 I10 - Laserfiche WebLink

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Item #10 CITY OF COLTON AGENDA REPORT FOR THE COUNCIL MEETING OF FEBRUARY 4, 2003 TO: HON. MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: TERESA S. DELGADO, HUMAN RESOURCES MANAGER SUBJECT: COSTS RELATED TO RETIREMENT OPPORTUNITY AND ESTABLISHING PERIOD OF TIME - GOLDEN HANDSHAKE DATE: January 28, 2003 BACKGROUND: Effective June 6, 2001, the City of Colton amended its contract with the California Public Employees' Retirement System (CalPERS) to allow two years of additional service credit for local miscellaneous members only. Also, under the same contract, the retirement benefits have been established at 2.7% at age 55 for the City's miscellaneous members. ANALYSIS/DISCUSSION: As a result of the State's shortfall, the loss of state revenue and the impact of PERS' assessment to recover its investment losses, the City has developed an action plan that includes staff reduction that will be realized initially through attrition and the "golden handshake" program. In entering into this agreement, the City agrees to "keep all vacancies created by retirements under Section 20903, or at least one vacancy in any position in any department or other organizational unit, permanently unfilled thereby resulting in an overall reduction in the work force of such department or organizational unit." The City will certify that anticipated changes in performing its services as a result of mandatory transfers, demotions and layoffs constitute at least one percent of the organization's total annual budget. On January 21, 2003, the City Council established the time period from February 5, 2003 to May 29, 2003, during which the eligible members must retire to receive the additional service credit. The eligible positions were identified as follows: Administrative Assistant - Electric Electric Engineering and Power Resources Manager - Electric Meter Operations Supervisor - Electric Account Technician II - Finance Purchasing Manager - Finance Risk Manager- Finance Storekeeper - Finance Equipment Maintenance Manager - Public Services Administrative Assistant - Redevelopment Agency Animal Control Officer (non -sworn) - Police Department