MEMORANDUM
TO: Ronald Wm. Drathman, Assembly President
Kenai Peninsula Borough Assembly Members
THRU: Mike Navarre, Borough Mayor
FROM: Richard Campbell, General Services Director
DATE: May 10, 1999
SUBJECT: A Resolution Authorizing Participation in the PERS Retirement
Incentive Program - Resolution 99-043
This resolution approves the borough's participation in the Public Employees' Retirement
System's (PERS) Retirement Incentive Program (RIP). Per requirements of the program, all
employees who did not sign waivers and whose participation would result in savings are
included in the calculations. Final adjustments to these figures can only be made after
the June 30, 1999 application period deadline. It is anticipated that a small percentage
of eligible employees will actually participate. Payments to PERS will be made out of
budgeted personal services accounts of the retiring employees' respective departments.
If the assembly approves participation, Central Emergency Services and Nikiski Fire
Service Area board will also have to approve participation for their employees. The Roads
Service Area and North Peninsula Recreation Service Area are not included since they had
no eligible employees.
The most current savings figures for participation are:
General Government $163,339
Nikiski Fire Service Area $ 38,144
Central Emergency Services $ 31,687
Information from the state regarding the RIP is attached.
RC:rh
Attachments as noted