|
|
|
|
|
|
COUNTY OF SAN MATEO
Inter-Departmental Correspondence
County Manager’s Office
|
|
|
|
DATE:
|
May 27, 2010
|
BOARD MEETING DATE:
|
June 8, 2010
|
SPECIAL NOTICE/HEARING:
|
None
|
VOTE REQUIRED:
|
Majority
|
|
|
TO:
|
Honorable Board of Supervisors
|
FROM:
|
David S. Boesch, County Manager
|
SUBJECT:
|
Amendment to Correct Early Retirement Resolution
|
|
|
RECOMMENDATION:
|
Amend the resolution adopted by this Board of Supervisors on May 11, 2010, to extend the required deadline for the retirement to occur for the Housing and Community Development Supervisor from June 25, 2010 to July 9, 2010.
|
|
|
BACKGROUND:
|
On May 11, 2010 this Board adopted a resolution enacting Section 31641.04 of the Government Code enabling otherwise eligible employees in certain job classifications, including Housing and Community Development Supervisor. The Resolution as adopted incorrectly listed the retirement date as June 25, 2010 rather than July 9, 2010, as represented to the employee in this job classification.
|
|
|
DISCUSSION:
|
On April 13, 2010 this Board accepted the actuarial certification of the cost in granting early retirement to certain classifications at risk of lay-offs. The actuarial report estimated the cost at $1,674,615, with the true cost not known due to variants including actual date of retirement. Granting the early retirement to all fourteen positions will result in salary savings and benefits savings of approximately $1,144,659 over one year. On May 11, 2010 this Board adopted a resolution granting these early retirements.
|
|
|
The July 9, 2010 deadline for the retirement to occur for the position of Housing and Community Development Supervisor was inadvertently omitted from Resolution 070748. Adopting this amendment corrects that error
|
|
|
FISCAL IMPACT:
|
The cost to change the retirement date from June 25, 2010 to July 9, 2010 for this one employee is minimal and within the estimation provided by the actual report accepted by this Board of Supervisors. Granting early retirement to this employee will result in a salary and benefits savings of approximately $142,875 over one year.
|