RES 1993-48 - 0000323262
RESOLUTION NO. 48 - 1993
A RESOLUTION AUTHORIZING AN EARLY RETIREMENT INCENTIVE FOR ELIGIBLE
EMPLOYEES OF THE CITY OF FRIDLEY
WHEREAS, Chapter 162, Section 108 of the 1993 Session Laws of the State of
Minnesota provides for, among other things, an early retirement incentive
consisting of an increase of 1/4 percent (0.258) in the multiplier used to
calculate the retirement annuity for each year of service up to thirty (30)
years for certain eligible employees who retire on or after May 17, 1993, and
before January 31, 1994; and
WHEREAS, such early retirement can lead to savings to the City and avoidance of
lay -offs; and
WHEREAS, certain employees of the City are eligible for this state authorized
early retirement incentive;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Fridley to
offer this state authorized early retirement incentive of an increase of 0.258
in the multiplier used to calculate the retirement annuity for each year of
service up to thirty (30) years to all eligible employees of the City of Fridley
who retire after May 17, 1993, and before January 31, 1994.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 21ST DAY OF
' JUNE, 1993.
WILLIAM J. NEE - MAYOR
ATTEST:
WILLIAM A. CHAMPA - CITY C ERK