1989-35 Electing to Participate in the Retirement Incentive Program (RIP), Chapter 26, SLA 1986ATTEST:
By LO.'..Oe
Borough Clark . a.ta
Resolution No. 89 -35 -R
Page 1 of 1
KODIAK ISLAND BOROUGH
RESOLUTION NO. 89 -35 -R
PASSED AND APPROVED THIS 1st DAY OF JUNE, 1989.
By: Mayor Selby
Drafted by: Finance Officer
Introduced: June 1, 1989
Adopted: June 1, 1989
A RESOIITTION BY THE KCDIAK ISLAND BOROUGH ASSEMBLY, KODIAK, ALASKA,
ELECTING TO PARTICIPATE IN THE RETIREMENT 2NCFSR'IVE PROGRAM (RIP), CHAPTER 26,
SLA 1986, AND AUTHORIZING THE MAYOR TO ENTER INFO AN AGREEMENT WITH THE
ADMINISTRATOR OF THE PUBLIC EMPLOYEE'S RETIREMENT SYSTEM (PEPS) TO FUND THE
COST OF PARTICIPATION IN THE RIP.
WHEREAS, the Kodiak Island Borough is an employer in the Public
Employee's Retirement System (PERS) and eligible to participate in the
RETIREMENT INCENTIVE PROGRAM (RIP) under Chapter 26, SLA 1986, as revised by
HCS Senate Bill 73 (Fin) 05 -05 -89 which took effect on May 15, 1989; and
WHEREAS, the Kodiak Island Borough finds it necessary to reduce the
costs in this period of declining revenues; and
II WHEREAS, the Kodiak Island Borough is seeking ways to reduce costs
without the need to layoff or terminate classified employees;
NOW, THEREFORE, BE TT RESOLVED by the Assembly of the Kodiak Island
Borough, that:
1. For the purposes of Chapter 26, SLA 1986 (as revised), the RETIREMENT
INCENTIVE PROGRAM, the Kodiak Island Borough classified employee
classified employee group is designated as eligible to participate in
the P1P and all eligible employees in the unit may participate in the
RIP if they so elect;
2. Eligible employees who elect to participate in the RIP must formally
apply for retirement during the application period of September 30,
1989 -March 31, 1990 and such employees must elect to retire on or
before November 1, 1990;
3. That through its participation in the RIP and attrition there will
be an overall personal service cost savings to the Borough
sufficient to fund each eligible employee's participation in the
program;
4. The Mayor of the Kodiak Island Borough is authorized to enter into a
financial agreement with the PERS to implement the RIP and to commit
borough funds for the cost of the program.
KODIAK ISLAND BOROUGH