Title
Ordinance authorizing the County Administrator to offer certain eligible employees an Accelerated Retirement Option (ARO) in conjunction with the Accelerated Retirement Option Administrative Policy.
Staff Summary
* In 2009 and 2010, the County offered an ARO program to reduce headcount, allow for planned departmental restructuring, and reduce on-going costs for the County.
* A long term benefit of the ARO is that the County can evaluate existing departmental operations along with vacancies created by the ARO; and then, consider opportunities to enhance customer service, gain efficiencies, and reduce expenses.
* Based on the success of the past program, and in consideration of the projected budget challenges, it is recommended that the County offer a similar program during 2016/2017.
* Eligible employees will be allowed to continue health insurance and dental benefits for two years by making contributions at the same monthly rate as full-time regular employees; OR
* Eligible employees will be allowed to continue health and dental insurance benefits for one year by making contributions at the same monthly rate as full-time regular employees and will receive one week of pay for every two years of service above seven years.
* It is anticipated that this benefit may generate a first year average savings of up to $1,750 per employee and a second year average savings of up to $9,376 per employee, for a cumulated two-year average savings of $11,123 per employee.
* This option will be offered to employees beginning October 12, 2016 through December 19, 2016.
* Employees who choose this option may begin their retirement on a mutually agreeable date from October 31, 2016 through March 31, 2017 with some exceptions.
Body
ORDINANCE
WHEREAS, the County of Lake, in an effort to reduce the number of full-time equivalent employees, allow for planned restructuring, and reduce on-going costs, the County is implementing an accelerated retirement optio...
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