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HomeMy WebLinkAbout08-132 ~~ -tu', 1'0113 ~ ,: /(l Atlm RESOLUTION NO. 08-132 A RESOLUTION AMENDIN6 RESOLUTION NO. 86-173, AS AMENDED, BY AMENDING THE EMPLOYEE HANDBOOK FOR EMPLOYEES OF ST. LUCIE COUNTY, FLORIDA WHEREAS, the Board of County Commissioners of St. Lucie County, Florida, has made the following determinations: 1. By Resolution No. 86-173, adopted September 16, 1986, and subsequently amended, the Board of County Commissioners adopted the Employee Handbook for employees of St. Lucie County in order to update personnel policies to reflect changes in federal and state law and provide each employee with essential information regarding personnel policies and benefits. 2. It is necessary to further amend Resolution No. 86-173 to establish a Voluntary Separation Incentive Program pursuant to Ordinance No. 08-0-118. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of St. Lucie County, Florida: 1. Resolution No. 86-173, as amended, is hereby further amended to incorporate the amendments to the Employee Handbook, attached hereto and incorporated herein as Exhibit" A": 2. This resolution shall be effective on the date of adoption. After motion and second the vote on this resolution was as follows: Chairman Joseph E. Smith AYE Vice Chairman Paula Lewis AYE Commissioner Doug Coward AYE Commissioner Charles Grande AYE Commissioner Chris Craft AYE PASSED AND DULY ADOPTED this 22nd day of April, 2008. ATTEST: BOARD OF COUNTY COMMISSIONERS ST. LUCIE COUNTY, FLORIDA EXHIBIT I \I A {I ST. LUCIE COUNTY BOARD OF COUNTY COMMISIONERS APPROVAL TO IMPLEMENT A VOLUNTARY RETIREMENT PROGRAM FOR EMPLOYEES Staff is proposing that the Board approve offering a Early Retirement Incentive Program (ERIP) which allows employees to choose from two options: . Either medical insurance coverage for a period of up to three (3) years, or . An up front one-time cash payment in lieu of three years coverage (calculated at 950AJ of the average annual insurance benefit for a period of up to three (3) years, less applicable payroll taxes. St. Lucie County Plan The plan would be structured as follows: 1. Full time regular employees who have attained age 55 or older who are vested in the Florida Retirement System (FRS) from years of service in St. Lucie County (six (6) years) by 3/31/09 would be eligible. , 2. The duration of participation in the plan would be up to three years. Once an employee has confirmed enrollment, the employee must terminate employment no later than 3/31/09. The County retains the right to require an earlier resignation date than submitted based on the needs of the County. 3. Employees who elect to participate in the program are not required to retire under The FRS Pension Plan or withdraw funds from their FRS Investment account. 4. Cash payments are calculated based upon the current participation level for single & family coverage premium rates at ninety-five percent (950AJ), which will be $30,039 for single coverage for those employees who currently have single coverage or $62,394 for family coverage for those employees who currently have family coverage less applicable payroll taxes. 5. The employee will be able to continue health insurance coverage at their current participation level (single or family) as of the date the program takes effect. If the employee has waived their right to coverage they will be eligible to take the lump sum payout of three (3) years of the single coverage rate which is $30,039. Those retirees who don't elect to take the cash incentive payout will be entitled to purchase County medical insurance at full cost following the three (3) year retirement incentive. 6. Employees electing the cash incentive for three years will be eligible to continue participation in the group insurance plan should they choose to do so under COBRA, for eighteen (18) months. 7. Eligible employees will have a period of thirty (30) days in which to enroll. The enrollment period will be from June 1, 2008 through June 30, 2008. Once enrolled In the plan, the employee must specify a resignation/retirement date no later than 3/31/09. The County retains the right to require an earlier resignation date based on the needs of the County. Page 2. Voluntary Retirement Program Incentive 8. Eligible employees who elect to participate in the program will be asked to enter into an Agreement and Release with St. Lucie County, The agreement will include the details of the program and specifically identify and explain the benefit that the employee has selected under the program. The agreement will also include a release as required by the Age Discrimination in Employment Act (ADEA), This release will place the employee on notice of their rights under ADEA and askthe employee to consent that the Agreement and Release is .entered into "knowingly and voluntarily." 9. Employees who leave the County under the terms of the Early Retirement Incentive Program may not be re-employed by the County and receive County. benefits. If the Board so desires, for the benefit of the County, they may contract with retired County employees for specified services. No fringe benefits would be paid under such contracts.