08-0506_OC EMPLOYEES RETIREMENT SYSTEM_Early Retirement Incentive AgrEARLY RETIREMENT INCENTIVE AGREEMENT
BY AND BETWEEN
THE CITY OF SAN. JUAN CAPIISTRANO
AND THE
ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
This Agreement is entered into effective the 6et of May, 2008, and is by and between the
CITY OF SAN JUAN CAPISTRANO ("CITY"), a .district pursuant to Government Code
Section 31557, and the ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
COCERS% a public retirement system organized and operating under the provisions of
the County Employees Retirement Law of 1937 (Govt. Code Sections 31450-31899.10);.
WHEREAS, the CITY wishes to offer some of its employees additional retirement
service credit pursuant to. Government Code Section 31641.04'as an incentive for
those employees to retire early ("Early Retirement Incentive Plan"); and,
WHEREAS, under Government Code Section 31641.04, there are certain
conditions that must be met before employees may receive additional retirement service
credit pursuant to such statute, including the condition that the CITY must pay into the
retirement fund a sum of money determined by the Hoard of Retirement of OCERS to be equal
to the actuarial equivalent of the difference between the retirement aikawance the employee
receives after the receipt of such additional retirement service credit and the mount the
employee would have received without such service credit, and that such payment shall be
made in a manner and time period mutually acceptable to CITY and the Board of Retirement of
OCERS; and
WHEREAS, the purpose of this agreement is to set forth the manner and time period in
which the CITY will make the payments to OCERS as required by Government Carie Section
31641.04; NOW, THEREFORE, IT IS MUTUALLY AGREED BY AND BETWEEN the CITY
and OCERS as foilows:
1. At various times between May 20, 2008 and June 30, 2008, the CITY may offer to
some of its employees additional retirement service credit pursuant to Government Code
Section 31641.04, as an incentive for those employees to retire. Such additional service credit
shall not exceed the following amount of service credit per eligible employee.
No. of Years of
City Employment
Completed
Service Credit
5-10 years
0.5 years
11-20 years
i year
> 20 years
2 years
2. In granting such additional retirement service credit, the CITY will comply with all of
the conditions and requirements set forth in Government Code Section 31641.04, including, but
not limited to, the requirement that the Sari Juan Capistrano City Council must adopt one or
more resolutions containing all of the information required by said Section 316.41.04. From and
after the date of this Agreement, each resolution adopted by the CITY in connection with the
Early Retirement Incentive Pian shall also state that notwithstanding any other provision of the
resolution, the amount of additional retirement service credit granted to employees pursuant to
such resolution will in no event cause the retirement allawance of any employee to exceed the
maximum bereft allowed under Section 415 of the Internal Revenue Code (including all special
Government plan limits), for participants of tax -qualified retirement plans.
3. In accordance with subsection (a)(3) of Goverment Code Section 31641.04, for
each CITY employee who receives additional retirement service credit pursuant to said statute,
the CITY must transfer to OCERS an amount of money determined by the Board of Retirement
to be the actuarial equivalent of the difference between the retirement allowance such employee
receives after the receipt of service credit under this section and the amount he or she would
have received without such service credit, It is impractical to calculate this amount until after the
employees who receive such additional service credit have actually retired. Therefore, the
parties agree that the calculation of such amounts, and time and mariner of payment (including
Interest), shall be as follows:
(a) As soon as practicable after June 30, 2008, OCERS will provide its actuary
with relevant information pertaining to all employees of the CITY who retired between May.20,
2008 and June 30, 2008, and who were granted additional retirement service credit pursuant to
Government Code Section 31641.04. Based on the information provided by OCERS, the
actuary will calculate, for each such employee, the act iarlal equivalent of the difference
between the allowance the retired employee receives with such additional service credit, and
the amount the retiree would have received without such service credit.
(b) As soon as practicable after June 30,-2008, OCERS will provide the CITY
with a statement that sets forth the amounts calculated by the actuary pursuant to the preceding
paragraph, and the CITY will be obligated to pay such amount to OCERS in accordance with
Government Code Section 31641.04. The CITY will pay OCERS the present value amount per
the actuary calculations to be paid in full no later than December 31, 2008. Interest will accrue
on all unpaid amounts from the date the employee retires until the date of payment. The
Interest rate will be the same as the actuarial interest assumption rate, which is currently severs
and three quarters (7.75) percent per year, but may be periodically adjusted pursuant to
Government Code Section 31453 up to an amount not to exceed ten (10) percent per year.,
4. If, for any reason, the CITY falls to make the payment required under this agreement
on or before the date such payment is due (for any reason), the Board of Retirement of OCERS
may make a demand to the CITY for immediate payment of the amount due. The CITY shall
then, within 30 days, transfer the amount required to the County Advance Reserve Account of
the Retirement Fund.
WHEREFORE, the parties have entered into this agreement as of the date first written
above.
CITY SAN AIgPISTRANO ORANGE COUNTY EMPLOYEES
By:
Approved4as to Form:
A 14
By:
ity orney
City of San Juan Capistrano
ATTEST:
Marga t R. Monahan, City Clerk
By:
Approved as to Form:
By: (..�..
Wyne
neral CounseUCERS
RESOLUTION NO. 08-05-06-0 2
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, (EARLY RETIREMENT INCENTIVE
AGREEMENT) (OCERS)
WHEREAS, the City of San Juan Capistrano wishes to offer some of its employees
additional retirement service credit pursuant to Government Code Section 31641.04, as an
early retirement incentive; and,
WHEREAS, the City Council of the City of San Juan Capistrano determines that,
because of the impending curtailment of service and/or changes in the manner of
performing services, and resulting economic benefit to the City, the best interest of the City
will be served by making designated members of the Orange County Employees
Retirement System eligible to receive additional service credit; and,
WHEREAS, the City Council of the City of San Juan Capistrano wishes to make
available to members of the Orange County Employees Retirement System who are
employees of the City of San Juan Capistrano and occupy the Management Analyst
classification, an Early Retirement Incentive; and,
WHEREAS, receipt of the additional service credit shall be subject to the conditions
set forth in the Early Retirement Incentive Agreement between the City of San Juan
Capistrano and OCERS, and subsections (b) and (d) of Section 31641.04 of the California
Government Code; and, provided that such additional service credit shall not cause any
retirement allowance to exceed the limitations contained in Section 415 of the Internal
Revenue Code; and,
WHEREAS, the additional retirement service credit shall be made_available
pursuant to Government Code Section 31641.04 and shall not exceed the following
amount of service credit per eligible employee:
No. of Years of
City Employment
Completed Service Credit
5-10 years 0.5 years
11-20 years 1 year
> 20 years 2 years
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San
Juan Capistrano, does hereby adopt the Early Retirement Incentive Agreement, attached
as Exhibit A and incorporated herein by reference. Employees in the identified
classification will be eligible for the early retirement incentive between May 20, 2008, and
June 1, 2008.
Page 1 of 2 05-06-2008
PASSED, APPROVED, AND ADOeXMa-#lois 6t"may of May 2008.
TO, MAYO R
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF SAN JUAN CAPISTRANO )
I, MARGARET R. MONAHAN, appointed City Clerk of the City of San Juan Capistrano, do hereby
certify that the foregoing Resolution No. 08-05-06-02 was duly adopted by the City Council of the
City of San Juan Capistrano at a Regular meeting thereof, held the 6th day of May 2008, by the
following vote:
AYES:
COUNCIL MEMBERS:
Alievato, Nielsen, Hribar, Uso and Mayor Soto
NOES:
COUNCIL MEMBER:
None
ABSENT:
COUNCIL MEMBER:
None
�j P I A\
MARGAR T . ONAHAN, City Clerk
Page 2 of 2 05-06-2008
EARLY RETIREMENT INCENTIVE AGREEMENT
BY AND BETWEEN
THE CITY OF SAN JUAN CAPISTRANO
AND THE
ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
This Agreement is entered into effective the 6th of May, 2008, and is by and between the
CITY_ OF SAN .JUAN CAPISTRANO ("CITY"), a district pursuant to Government Code
Section 31557, and the ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
(" OCERS'), a public retirement system organized and operating under the provisions of
the County Employees Retirement Law of 1937 (Govt. Code Sections 31450-31899.10);
WHEREAS, the CITY wishes to offer some of its employees additional retirement
service credit pursuant to Government Code Section 31641.04, as an Incentive for
those employees to retire early ("Early Retirement Incentive Plan'); and,
WHEREAS, under Government Code Section 31641.04, there are certain
conditions that must be met before employees may receive additional retirement service
credit pursuant to such statute, including the condition that the CITY must pay into the
retirement fund a sum of money determined by the Board of Retirement of OCERS to be equal
to the actuarial equivalent of the difference between the retirement allowance the employee
receives after the receipt of such additional retirement service credit and the amount the
employee would have received without such service credit, and that such payment shall be
made in a manner and time period mutually acceptable to CITY and the Board of Retirement of
OCERS; and
WHEREAS, the purpose of this agreement is to set forth the manner and time period in
which the CITY will make the payments to OCERS as required by Government Code Section
31641.04; NOW, THEREFORE, IT IS MUTUALLY AGREED BY AND BETWEEN the CITY
and OCERS as follows:
1. At various times between May 20, 2008 and June 30, 2008, the CITY may offer to
some of its employees additional retirement service credit pursuant to Government Code
Section 31641.04, as an incentive for those employees to retire. Such additional service credit
shall not exceed the following amount of service credit per eligible employee.
No. of Years of
City Employment
Completed Servio Credit
5-10 years 0.5 years
11-20 years 1 year
> 20 years 2 years
2. in granting such additional retirement service credit, the CITY will comply with all of
the conditions and requirements set forth in Government Code Section 31641.04, including, but
not limited to, the requirement that the San Juan Capistrano City Council must adopt one or
more resolutions containing all of the information required by said Section 31641.04. From and
after the date of this Agreement, each resolution adopted by the CITY In connection with the
Early Retirement Incentive Pian shall also state that notwithstanding any other provision of the
resolution, the amount of additional retirement service credit granted to employees pursuant to
such resolution will in no event cause the retirement allowance of any employee to exceed the
EXHIBIT A
maximum benefit allowed under Section 415 of the Internal Revenue Code (including all special
Government plan limits), for participants of tax -qualified retirement plans.
3. In accordance with subsection (a)(3) of Government Code Section 31641.04, for
each CITY employee who receives additional retirement service credit pursuant to said statute,
the CITY must transfer to OCERS an amount of money determined by the Board of Retirement
to be the actuarial equivalent of the difference between the retirement allowance such employee
receives after the receipt of service credit under this section and the amount he or she would
have received without such service credit. ft is impractical to calculate this amount until after the
employees who receive such additional service credit have actually retired. Therefore, the
parties agree that the calculation of such amounts, and time and manner of payment (including
interest), shall be as follows:
(a) As soon as practicable after June 30, 2008, OCERS will provide its actuary
with relevant information pertaining to all employees of the CITY who retired between May 20,
2008 and June 30, 2008, and who were granted additional retirement service credit pursuant to
Govemment Code Section 31641.04. Based on the information provided by OCERS, the
actuary will calculate, for each such employee, the actuarial equivalent of the difference
between the allowance the retired employee receives with such additional service credit, and
the amount the retiree would have received without such service credit.
(b) As soon as practicable after June 30, 2008, OCERS will provide the CITY
with a statement that sets forth the amounts calculated by the actuary pursuant to the preceding
paragraph, and the CITY will be obligated to pay such amount to OCERS in accordance with
Government Code Section 31641.04. The CITY will pay OCERS the present value amount per
the actuary calculations to be paid in full no later than December 31, 2008. Interest will accrue
on all unpaid amounts from the date the employee retires until the date of payment. The
interest rate will be the same as the actuarial interest assumption rate, which is currently seven
and three quarters (7.75) percent per year, but may be periodically adjusted pursuant to
Government Code Section 31453 up to an amount not to exceed ten (10) percent per year.
4. If, for any reason, the CITY fails to make the payment required under this agreement
on or before the date such payment is due (for any reason), the Board of Retirement of OCERS
may make a demand to the CITY for immediate payment of the amount due. The CITY shall
then, within 30 days, transfer the amount required to the County Advance Reserve Account of
the Retirement Fund.
WHEREFORE, the parties have entered into this agreement as of the date first written
above.
CITY OF SAN JUAN CAPISTRANO ORANGE COUNTY EMPLOYEES
RETIREMENT SYSTEM
By: By:
Joe Soto, Mayor
Approved as to Form:
By: CuJi'Aff I%_
ity Aft6kney
City of San Juan Capistrano
Reed Royalty, Chairman
Approved as to Form:
By:
Julie Wyne
General Counsel, OCERS
AGENDA ITEM
TO: Honorable Mayor and Members of the City Council 9.6'
FROM: Dave Adams, City Manager
5/6/2008
D13
SUBJECT: Consideration of an Early Retirement Incentive Agreement with the
Orange County Employees Retirement System
RECOMMENDATION:
By motion:
1. Adopt a Resolution Offering an Early Retirement Incentive, and
2. Approve the Early Retirement Incentive Agreement with the Orange County
Employees Retirement System to Allow the City to Offer an Early Retirement
Incentive.
SITUATION:
At this time, it is believed that the best interest of the City will be served by making
designated member(s) of the Orange County Employees Retirement System eligible to
receive additional service credit as an early retirement incentive. To that end, the City
wishes to offer its employee(s) an early retirement incentive of up to two (2) years of
service credit.
After evaluation, the City has concluded that it is necessary to undertake changes in the
manner of performing services, and as a result, the City is expected to realize a savings
of approximately $255,000 annually. In order to move forward with these changes, the
City wishes to make available an early retirement incentive to members of the Orange
County Employees Retirement System who are employees of the City, meet the early
retirement incentive criteria, and occupy the position classification of Management
Analyst.
Staff recommends adoption of the Resolution offering an early retirement incentive
(Attachment 1) and approval of the Early Retirement Incentive Agreement with the
Orange County Employees Retirement System (Attachment 2). A copy of the
Agreement has been forwarded to the Board of Directors of the Orange County
Employees Retirement System for consideration at their May 19, 2008, meeting.
COMMISSIONIBOARD REVIEW AND RECOMMENDATIONS:
Not applicable.
Agenda Item -2- May 6, 2008
FINANCIAL CONSIDERATIONS:
The estimated cost resulting from the implementation of the Early Retirement Incentive
Agreement is approximately $55,000. It is anticipated that the first year's cost savings
resulting from the changes in performing services will fund this expense. Payment to the
Orange County Employees Retirement System will be made by the end of fiscal year
2008/09.
NOTIFICATION:
San Juan Capistrano Classified Employees Association
San Juan Capistrano Management and Professional Employees Association
RECOMMENDATION:
By motion:
1. Adopt a Resolution Offering an Early Retirement Incentive, and
2. Approve the Early Retirement Incentive Agreement with the Orange County
Employees Retirement System to Allow the City to Offer an Early Retirement
Incentive.
Respectfully submitted,
Dave Adams
City Manager
Attachments:
1. Resolution Offering an Early Retirement Incentive
2. Agreement between the City and OCERS
Prepared by,
c
Kathleen Springer
Human Resources Manager
RESOLUTION NO. 08-06-05
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA, (EARLY RETIREMENT INCENTIVE
AGREEMENT) (OCERS)
WHEREAS, the City of San Juan Capistrano wishes to offer some of its
employees additional retirement service credit pursuant to Government Code Section
31641.04, as an early retirement incentive; and,
WHEREAS, the City Council of the City of San Juan Capistrano determines
that, because of the impending curtailment of service and/or changes in the manner of
performing services, and resulting economic benefit to the City, the best interest of the City
will be served by making designated members of the Orange County Employees
Retirement System eligible to receive additional service credit; and,
WHEREAS, the City Council of the City of San Juan Capistrano wishes to
make available to members of the Orange County Employees Retirement System who are
employees of the City of San Juan Capistrano and occupy the Management Analyst
classification, an Early Retirement Incentive; and,
WHEREAS, receipt of the additional service credit shall be subject to the
conditions set forth in the Early Retirement Incentive Agreement between the City of San
Juan Capistrano and OCERS, and subsections (b) and (d) of Section 31641.04 of the
California Government Code; and, provided that such additional service credit shall not
cause any retirement allowance to exceed the limitations contained in Section 415 of the
Internal Revenue Code; and,
WHEREAS, the additional retirement service credit shall be made available
pursuant to Government Code Section 31641.04 and shall not exceed the following
amount of service credit per eligible employee:
No. of Years of
City Employment
Completed Service Credit
5-10 years
0.5 years
11-20 years
1 year
> 20 years
2 years
ATTACHMENT 1
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of
San Juan Capistrano, does hereby adopt the Early Retirement Incentive Agreement,
attached as Exhibit A and incorporated herein by reference. Employees in the identified
classification will be eligible for the early retirement incentive between May 20, 2008, and
June 1, 2008.
PASSED, APPROVED, AND ADOPTED this day of
2008.
JOE SOTO, MAYOR
ATTEST:
MARGARET R. MONAHAN, CITY CLERK
ATTACHMENT
EARLY RETIREMENT INCENTIVE AGREEMENT
BY AND BETWEEN
THE CITY OF SAN JUAN CAPISTRANO
AND THE
ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
This Agreement is entered into effective the 6t" of May, 2008, and is by and between the
CITY OF SAN JUAN CAPISTRANO ("CITY"), a district pursuant to Government Code
Section 31557, and the ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
("OCERS"), a public retirement system organized and operating under the provisions of
the County Employees Retirement Law of 1937 (Govt. Code Sections 31450-31899.10);
WHEREAS, the CITY wishes to offer some of its employees additional retirement
service credit pursuant to Government Code Section 31641.04, as an incentive for
those employees to retire early ("Early Retirement Incentive Plan"); and,
WHEREAS, under Government Code Section 31641.04, there are certain
conditions that must be met before employees may receive additional retirement service
credit pursuant to such statute, including the condition that the CITY must pay into the
retirement fund a sum of money determined by the Board of Retirement of OCERS to be equal
to the actuarial equivalent of the difference between the retirement allowance the employee
receives after the receipt of such additional retirement service credit and the amount the
employee would have received without such service credit, and that such payment shall be
made in a manner and time period mutually acceptable to CITY and the Board of Retirement of
OCERS; and
WHEREAS, the purpose of this agreement is to set forth the manner and time period in
which the CITY will make the payments to OCERS as required by Government Code Section
31641.04; NOW, THEREFORE, IT IS MUTUALLY AGREED BY AND BETWEEN the CITY
and OCERS as follows:
1. At various times between May 20, 2008 and June 30, 2008, the CITY may offer to
some of its employees additional retirement service credit pursuant to Government Code
Section 31641.04, as an incentive for those employees to retire. Such additional service credit
shall not exceed the following amount of service credit per eligible employee.
No. of Years of
City Employment
Completed
Service. Credit
5-10 years
0.5 years
11-20 years
1 year
> 20 years
2 years
2. In granting such additional retirement service credit, the CITY will comply with all of
the conditions and requirements set forth in Government Code Section 31641.04, including, but
not limited to, the requirement that the San Juan Capistrano City Council must adopt one or
more resolutions containing all of the information required by said Section 31641.04. From and
after the date of this Agreement, each resolution adopted by the CITY in connection with the
Early Retirement Incentive Plan shall also state that notwithstanding any other provision of the
resolution, the amount of additional retirement service credit granted to employees pursuant to
such resolution will in no event cause the retirement allowance of any employee to exceed the
ATTACHMENT 2
maximum benefit allowed Leder Section 415 of the Internal Revenue Code (including all special
Government plan limits), for participants of tax -qualified retirement plans.
3. In accordance with subsection (a)(3) of Government Code Section 31641.04, for
each CITY employee who receives additional retirement service credit pursuant to said statute,
the CITY must transfer to OCERS an amount of money determined by the Board of Retirement
to be the actuarial equivalent of the difference between the retirement allowance such employee
receives after the receipt of service credit under this section and the amount he or she would
have received without such service credit. It is impractical to calculate this amount until after the
employees who receive such additional service credit have actually retired. Therefore, the
parties agree that the calculation of such amounts, and time and manner of payment (including
interest), shall be as follows:
(a) As soon as practicable after June 30, 2008, OCERS will provide its actuary
with relevant information pertaining to all employees of the CITY who retired between May 20,
2008 and June 30, 2008, and who were granted additional retirement service credit pursuant to
Government Code Section 31641.04. Based on the information provided by OCERS, the
actuary will calculate, for each such employee, the actuarial equivalent of the difference
between the allowance the retired employee receives with such additional service credit, and
the amount the retiree would have received without such service credit.
(b) As soon as practicable after June 30, 2008, OCERS will provide the CITY
with a statement that sets forth the amounts calculated by the actuary pursuant to the preceding
paragraph, and the CITY will be obligated to pay such amount to OCERS in accordance with
Government Code Section 31641.04. The CITY will pay OCERS the present value amount per
the actuary calculations to be paid in full no later than December 31, 2008. Interest will accrue
on all unpaid amounts from the date the employee retires until the date of payment. The
interest rate will be the same as the actuarial interest assumption rate, which is currently seven
and three quarters (7.75) percent per year, but may be periodically adjusted pursuant to
Government Code Section 31453 up to an amount not to exceed ten (10) percent per year.
4. If, for any reason, the CITY fails to make the payment required under this agreement
on or before the date such payment is due (for any reason), the Board of Retirement of OCERS
may make a demand to the CITY for immediate payment of the amount due. The CITY shall
then, within 30 days, transfer the amount required to the County Advance Reserve Account of
the Retirement Fund.
WHEREFORE, the parties have entered into this agreement as of the date first written
above.
CITY OF SAN JUAN CAPISTRANO ORANGE COUNTY EMPLOYEES
RETIREMENT SYSTEM
am
Joe Soto, Mayor
Approved as to Form:
In
ATTEST
City Attorney
City of San Juan Capistrano
Margaret R. Monahan, City Clerk
By:
Reed Royalty, Chairman
Approved as to Form:
By:
Julie Wyne
General Counsel, OCERS
32400 PASEO ADELANTO
SAN JUAN CAPISTRANO, CA 92675
(949) 493-1171
(949) 493-1053 FAx
www.sanjuancapistrano.org
MEMBERS OF THE CITY COUNCIL
NOTIFICATION OF MEETING OF POTENTIAL INTEREST
OF THE SAN JUAN CAPISTRANO CITY COUNCIL
SAM ALLEVATO
THOMAS W. HRIBAR
MARK NIELSEN
JOE SOTO
DR. LONDRES USO
The City Council of San Juan Capistrano will meet at 6:30 p.m. on Tuesday, May 6,
2008 in the City Council Chamber in City Hall, to consider: "Consideration of an Early
Retirement Incentive Agreement with the Orange County Employees Retirement
System" — Item No. D13.
If you have specific thoughts or concerns regarding this item, you are encouraged to
participate in this decision making process. You can communicate with the City Council
through correspondence addressed to the Council and/or by attending the meeting and
speaking to the Council during the public meeting.
Correspondence related to this item must be received at the City Clerk's office by 5:00
p.m. on Monday, May 5, 2008 to allow time for the Council to consider its content.
If you would like to speak at the meeting, please complete a yellow "Request to Speak"
form found inside the entrance to the Council Chamber. This form is turned in at the
staff table, just in front of the Council dais. You will be called to speak by the Mayor
when the item is considered.
You have received this notice at the request of the City staff member Kathleen Springer,
Human Resources Manager. You may contact that staff member at (949) 443-6321
with any questions.
The agenda, including agenda reports,
www.sanivancapistrano.org. If you would
agendas are posted to the web site, please
cityclerk _sanivancapistrano.org.
Meg Monahan, MMC
City Clerk,
is available to you on our web site:
ike to subscribe to receive a notice when
make that request by sending an e-mail to:
cc: San Juan Capistrano Classified Employees Association; San Juan Capistrano
Management and Professional Employees Association; Kathleen Springer,
Human Resources Manager
* Received staff report
San Juan Capistrano: Preserving the Past to Enhance the Future
n
tl, Printed on 100% recycled paper
32400 PASEO ADELANTO
SAN JUAN CAPISTRANO, CA 92675
(949) 493-1171
(949) 493-1053 FAX
www.sanjuancapistrano.org
TRANSMITTAL
TO:
Reed Royalty, Chairman
OCERS
2223 Wellington Ave
Santa Ana, CA 92701
FROM: Meg Monahan, MMC — City Clerk (949) 443-6308
RE: Early Retirement Incentive Agreement — City of San Juan Capistrano
Enclosed:
MEMBERS OF THE CITY COUNCIL
SAM ALLEVATO
THOMAS W. HRIBAR
MARK NEILSON
JOE SOTO
DR. LONDRES USO
(2) original, executed agreements for approval by the OCERS Board of Directors.
Please forward (1) original executed agreement to my attention when completed.
Thank you,
CC:
Kathleen Springer, Human Resources Manager,
San Juan Capistrano: Preserving the Past to Enhance the Future
`a Printed on 100% recycled paper