HomeMy WebLinkAboutOrdinance No. 126 ORDINANCE NO. 126
PROVIDING ADDITIONAL SERVICE CREDIT
TO ELIGIBLE DISTRICTS' EMPLOYEES WHO
RETIRE EARLY
AN ORDINANCE OF THE BOARD OF DIRECTORS OF
COUNTY SANITATION DISTRICT NO. 1 OF ORANGE
COUNTY, CALIFORNIA, PROVIDING FOR AN EARLY
RETIREMENT INCENTIVE PROGRAM BY GRANTING
ADDITIONAL SERVICE CREDIT TO ELIGIBLE
DISTRICTS' EMPLOYEES AS AUTHORIZED BY THE
COUNTY EMPLOYEES RETIREMENT LAW OF 1937—
GOVERNMENT CODE SECTION 31641.04.
WHEREAS, the Boards of Directors of County Sanitation Districts Nos. 1, 2, 3, 5,
6, 7, 11, 13 and 14 adopted Joint Resolution No. 95-19 and Joint Resolution No. 95-53,
approving an Early Retirement Incentive Program for all eligible Districts' employees, as
authorized by California Government Code Section 31641.04; and
WHEREAS, the Boards of Directors of County Sanitation Districts Nos. 1, 2, 3, 5,
6, 7, 11, 13 and 14 have determined that the manner of performing service, and the total
cost savings of having higher compensated employees retire and lower compensated
employees hired to replace the retirees exceeds the total actuarial cost of the additional
service credit granted to those who retire under this program; and
WHEREAS, pursuant to the provisions of the Joint Ownership, Operation and
Construction Agreement by and among County Sanitation Districts Nos. 1, 2, 3, 5, 6, 7,
11, 13 and 14, District No. 1 is the appointed authorized agent to act for every other
District.
NOW THEREFORE, the Board of Directors of County Sanitation District No. 1
does hereby ordain:
Section I: All regular employees of the County Sanitation Districts of Orange
County who are eligible to participate as members and retire under the Orange County
Employees Retirement System are granted two (2) additional years of service credit for
retirement benefit purposes, provided, they retire from regular employment of the
Districts during the period of March 1, 1995 and June 30, 1995.
Section II: The General Manager of the Districts is authorized to execute any and
all contracts or other documents and to transfer all required funds in order to implement
the authorized actions provided for herein.
Section III: This ordinance is enacted as an urgency measure to preserve the
public peace and welfare in that financial losses have been unexpectedly incurred during
this fiscal year and savings of money through reduced employee compensation will
partially offset said losses.
Section IV: This ordinance shall take effect immediately upon adoption.
Introduced and adopted this 28th day of June, 1995, at a regular meeting of the
Boards of Directors.
�O. uwC_Awee� _
Chair, Board of Dir or
County Sanitation District No. 1 of
A�5w Orange County, California
Secretary oft PP gd o Directors
County Sanita ion D strict No. 1 of
Orange County, California
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STATE OF CALIFORNIA)
)SS.
COUNTY OF ORANGE )
I, PENNY KYLE, Secretary of the Board of Directors of County Sanitation District
No. 1 of Orange County, California, do hereby certify that the above and foregoing
Ordinance No. 126 was passed and adopted at a regular meeting of said Board on the
28th day of June, 1995, by the following vote, to wit:
AYES: Pat McGuigan, Chair, James M. Ferryman, Jim Potts, Roger
R. Stanton
NOES: None
ABSTENTIONS: None
ABSENT: Mark A. Murphy
IN WITNESS WHEREOF, I have hereunto set my hand this 28th day of June,
1995.
J/
Penny Kyle
Secretary of the and o hectors
County Sanitation District No. 1
of Orange County, California
J:1WPDOCW D�TM126.