2014-06-25 CC & CC WS Handouts - Laserfiche WebLink

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DRAFT DRAFT DRAFT AGREEMENT FOR PHASED RETIREMENT BETWEEN THE CITY OF CENTERVILLE AND DALLAS LARSON This agreement is made and entered into this day of___________ , 2014 by and between the City of Centerville(City)and Dallas Larson(Larson): WHEREAS,under legislation passed in 2010,PERA's normal termination requirements and earning limits are waived for employees who are PERA Coordinated members age 62 and over and wish to ease into retirement;and, WHEREAS,the impetus for the legislation is in recognition that many Minnesota public employees are baby boomers preparing to retire in the near future,leaving a significant gap in experienced,knowledgeable employees in critical positions;and, WHEREAS,the position of City Administrator is a critical position for the City and the City will reassign job duties and transfer knowledge during this transition period;and WHEREAS, Larson qualifies for phased retirement in accordance with legislation and the rules of PERA and is hereby requesting approval of a phased retirement in order to assist the City with a smooth transition;and WHEREAS, the attached PERA Phased Retirement Agreement must be filed with PERA,to make a valid phased retirement option. NOW,THEREFORE,BE IT RESOLVED that the parties mutually agree: 1. The duration of phased retirement is for one year commencing October 1,2014. 2. HOURS and COMPENSATION.Larson will work a maximum of two days per week or 32 hours per pay period,with the schedule of hours worked left to the discretion of the successor administrator and Larson.Compensation will be at Larson's current rate, prorated to an hourly rate of pay. In lieu of comment[DLs]:$50.72/hr labor cost immediate pay,Larson may convert some or all of the hours worked to PTO, 64 x$50.72=3264.24 per month 3 moonthnth s=$9792.72 to be used/paid in the manner provided in the City's personnel policy.These converted hours may be accrued over and above the year-end maximum PTO carryover.Variable hours may be agreed to by the administrator and Larson, so long as the average hours do not exceed 80 hours in one month. 3. Larson will additionally be compensated as follows: A. PTO time will be earned on a pro-rated basis with earnings and accruals based on 20+years of full-time service. B. Salary increase on January 1,2015 at the same rate as other employees. C. One half of the normal employer contribution per month for insurance. comment[DL2]:$500/month msurance cost x 3=$1500