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HomeMy WebLinkAboutOrdinance No. 128 ORDINANCE NO. 128 - 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, 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; and WHEREAS, the Board of Directors of County Sanitation District No. 1, acting as agent for County Sanitation Districts Nos. 2, 3, 5, 6, 7, 11, 13 and 14, adopted Ordinance No. 126 on June 28, 1995, incorporating all of the same provisions as in Joint Resolutions Nos. 95-19 and 95-53; 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. NOW THEREFORE, the Board of Directors of County Sanitation District No. 1 of Orange County, California, does hereby ORDAIN: Section 1: All regular employees of the County Sanitation Districts of Orange County, California, 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 January 12, 1996 through and including March 30, 1996. 1 Section If: 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: The total cost savings of positions filled at a lower level or held vacant for a period of time shall exceed the total actuarial cost of the additional service credit granted and related paid leave pay-off costs. Section IV: For a period of five years, or until such time as the full actuarially determined cost is paid to OCERS, the Districts' Controller will conduct an annual postaudit to verify that the savings exceed the actuarial and related costs attributable to the additional service credit, and report the findings of that audit to the Finance, Administration and Human Resource Committee. The first report will be presented during the fourth quarter of FY '96. Section V: This ordinance shall become effective January 12, 1996. Section VI: The Secretary of the Board shall certify to the adoption of this Ordinance and shall cause a summary to be published in a newspaper of general circulation as the District is required by law. PASSED AND ADOPTED by the Board of Directors of County Sanitation District No. 1 at a regular meeting held December 13, 1995. Chairman, Board of Directo County Sanitation District No. 1 of Orange County, California Secretary of o of vectors County Sani tion trict No. 1 of Orange County, Ca ifornia 2000-GX01 20361_1 2 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. 128 was passed and adopted at a regular meeting of said Board on the 13th day of December, 1995, by the following vote, to wit: AYES: Pat McGuigan, Chair, James M. Ferryman, William G. Steiner NOES: None ABSTENTIONS: None ABSENT: Mark A. Murphy, Thomas R. Saltarelli IN WITNESS WHEREOF, I have hereunto set my hand this 13th day of December, 1995. Penny Kyle Secretary oft Boar f Directors County Sanitation District No. 1 of Orange County, California J:�WTF 128