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