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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 J:\WPD0C1BS10RD)95SF}12&W PD 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.