TITLE
Recommendation to adopt resolution establishing a retirement incentive for City of Long Beach Miscellaneous (non-Safety) employees in classifications affected by the Fiscal Year 2009 Budget reductions who retire between October 1, 2008 and December 31, 2008. (Citywide)
DISCUSSION
As part of the City's efforts to reduce the Fiscal Year (FY) 2009 budget and downsize the organization, it is recommended that a retirement incentive be offered to employees in classifications that were affected by FY 2009 Budget reductions. This incentive would add 288 hours, or three years worth of sick leave accruals, to the retiree's unused sick leave account to be used to pay post-retirement health, dental and/or long-term care insurance premiums. The following classifications would be eligible for the retirement incentive: Accounting Clerk, Clerk Typist, Equipment Operator, General Librarian, Department Librarian, Library Clerk, Maintenance Assistant, Diversity and Economic Opportunity Officer, and any other classification the City Manager deems to generate a cost savings from its reduction in the workforce. There are currently fourteen employees in these classifications who are eligible to retire and have indicated their willingness to retire by December 31,2008 if the incentive is offered.
This retirement incentive would encourage employees to retire and provide a cost savings from the reduction in workforce.
This letter was reviewed by Deputy City Attorney, Christina Checel and Budget Management Officer, Victoria Bell on October 1, 2008.
TIMING CONSIDERATIONS
Employees eligible for the incentive must service retire by December 31, 2008.
Therefore, City Council action is requested on October 21,2008, so employees will have adequate time to process the necessary retirement documents.
FISCAL IMPACT
Fourteen eligible employees have indicated their interest in the 2008 Retirement Incentive. The total cost to provide this incentive is estimated at $1 00,000 and woul...
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