HomeMy WebLinkAbout04-073BC~:~RD
CQUNTY C~
OF" ~UPERV~~C>RS
F BUTTE, STATE OF CALiFORN~#
Rcsolufion No, 04-0~3
RESOLUTION AUTHORIZING THE IMPLEMENTATION OF A
RETIREMENT INCENTIVE PROGRAM FOR BUTTE COUNTY EMPLOYEES
WHEREAS the County of Butte faces one of the most significant fiscal challenges since the
early 1990's in preparing a balanced budget for the 2004-OS fiscal year; and
WHEREAS retirement incentive programs have been found to provide real dollar savings to
organizations while sustaining programs and services to the general public; and
WHEREAS it is in the best interest of the County and its employees to provide a
supplemental retirement program to eligible employees; and
WHEREAS Butte County Administration and the Human Resources Department have
reviewed potential retirement incentive programs offered by the California Public Employee
Retirement System (Ca1PERS) and the Public Agency Retirement System; and
WHEREAS County staff has found the CaIPERS retirement incentive plan to be inflexible,
provides no guaranteed savings before decisions are made to enter into the program, and does not
allow Butte County to establish parameters on the use of the program that may be important to Butte
County; and
WHEREAS the Public Agency Retirement System (PARS) provides af7exible, predictable,
cost-effective manner in which to accomplish retirement incentives that acts in concet-t with existing
retirement programs and benefits; and
WHEREAS the County is eligible to be a member of the Public Agency Retirement System
(PARS) Trust, which has made available a Separation Incentive Plan supplementing CaIPERS and
qualifying under the relevant sections of the Internal Revenue Code and the California Government
Code;
WHEREAS the Board of Supervisors desires to avoid or mitigate the reduction of current
employees in the adoption of the 2004-OS budget.
NOW THEREFORE, I3E IT RESOLVED that:
1. The Board of Supervisors hereby endorses the implementation of a retirement incentive
program provided that the program meets or exceeds financial goals as determined by the
Board of supervisors and can be administered in a manner to minimize the disruption of
the effective management of County operations; and
?. The Board of Supervisors hereby adopts the PARS Trust, incl~.iding the PARS Separation
Incentive Plan, as part of the County Retirement Program, effective July 1, 2004; and
3. The Board of Supervisors hereby appoints the Chief Administrative Officer, or his
successor or his designee as the County's Plan Administrator for the Public Agency
Retirement System; and
4. The County's PARS Administrator is hereby authorized to execute the PARS legal and
administrative service documents on behalf of the County to implement a PARS
supplemental plan to CaIPERS. In addition, if the County's PARS Administrator finds
that the PARS supplemental plan benefit must be limited under Section 415 of Internal
Revenue Code, then the Plan Administrator will implement replacement benefit
programs at no additional cost to the County.
PASSED AND ADOPTED by the Board of Supervisors of the County of Butte on this 27`"
day of April 2004 by the following vote:
AYES: Supervisors ~toug,
NOES: 5unervisor Dolan
ABSENT: ATone
NOT VOTING: f~onQ
Josiassen, Yema~uchi end Ctzair I3ee1Qr
i
~ . ,
R. J. BEELER, Chair
Board of Supervisors
ATTEST:
bF
i F
PAUL MCIN~TOSH, Chief Administrative Officer
And Clerk of the Board of Supervisors