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35-91 Early Retirement Incentive Plan
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35-91 Early Retirement Incentive Plan
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Last modified
5/14/2013 3:12:28 PM
Creation date
10/18/2007 9:12:11 AM
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Office Of Council
Document Type
Ordinances
Date
10/18/2007
Date Adopted
6/17/1991
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<br />EXHIBIT "A" <br /> <br />The city of Lakewood's Dèpartment of Public Works Early Retirement <br />. Incentive Plan <br /> <br />The following terms, rules and procedures shall govern the <br />administration of the City of Lakewood's Department of Public Works Early <br />Retirement Incentive Plran (hereinafter "the Plan") aqopted pursuant to <br />Ordinance No., passed by the Council of the City of <br />Lakewood, ohio on , in a manner consistent with the <br />provisions of Section 145.297 of the Ohio Revised Code and Administrative <br />Rule 145-15-04, as administered by the Public Employees' Retirement <br />System of Ohio (hereinafter "PERS") and approved by the Department of <br />Public Works. <br /> <br />1. Term. The Plan will be in effect for a period of one (1) year, <br />commencing on July I, 1991 and terminating on June 3D, 1992. <br /> <br />2. Sinqle Plan. As required by the terms of Section 145.297 of <br />the Ohio Revised Code, the Plan shall be the only retirement <br />incentive plan in effect for eligible employees of the <br />Department of Public Works during the operation of this Plan. <br /> <br />3. Abilitv to Participate. Participation in the plan shall be <br />available to 18% of employees of the Department of Public Works <br />who are employed in their offices and are members of P.E.R.S. <br />on July 1, 1991, and who satisfy the eligibility requirements. <br />Employees who have established more total service credit of <br />record in the Public Employees Retirement System pursuant to <br />applicable service credit provisions of Chapter 145., O.R.C., <br />have the right to elect to participate in the Plan before <br />employees having less total service credit established in the <br />System. <br /> <br />4. Eliqibility. The City of Lakewood, Ohio offers this Plan to <br />Department of Public Works' employees who are members of PE~S <br />and who are eligible to participate in such Plan. Any such <br />employee shall be eligible to participate in the Plan if he or <br />she meets the following criteria: <br /> <br />A. The employee is not any of the following: <br /> <br />1.. An elected official; <br /> <br />2. A member of a board or commission; <br /> <br />3. <br /> <br />A ~erson elected <br />length; <br /> <br />to serve a term of fixed <br /> <br />4. <br /> <br />A person appointed <br />length, other than <br />employeq by the City <br /> <br />to serve a <br />a person <br />of Lakewood. <br /> <br />term of fixed <br />appointed anq <br /> <br />5. <br /> <br />A person <br />benefit. <br /> <br />who will retire <br /> <br />on a disability <br /> <br />B. The employee is or will be eligiblè to retire under <br />Section 145.32, 145.34, or 145.33 (A), O.R.C., on or <br />before the date of termination of the plan. Service <br />
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