NAME JOB TITLE

PLEASE PRINT

EMPLOYEE # DATE OF APPLICATION: DATE OF RETIREMENT:

NOTE: By applying for this program, you are certifying that you have read and that you understand the following rules and eligibility requirements under which the incentive is provided and that you are committing to accept the incentive and retire from the City if your application is approved.

PROGRAM PARAMETERS

There is a serious General Government 2011-2012 biennium budget shortfall. In order to reduce staffing to mitigate layoffs, the City would like to offer a $12,000 taxable, one-time financial incentive to full-time General Government employees who are eligible for retirement and who voluntarily retire effective January 1, 2012. Part-time employees who are eligible for retirement will be offered a pro-rata amount. The specifics of the proposal are as follows:

  1. The retirement eligible employees who can choose to take the incentive are: General Government employees covered by the Tacoma Employees’ Retirement System (TERS), and members of Local 31, Tacoma Fire Fighters Union and the Professional Public Safety Managers Association (PPSMA).
  1. Retirement eligibility is defined by the requirements of the system in which the member participates – the Tacoma Employees’ Retirement System for non-LEOFF General Government employees and Department of Retirement Systems (DRS) for LEOFF employees. In addition, members of Local 31 and the Professional Public Safety Managers Association (PPSMA) have negotiated an agreement with the City, which includes their members as eligible for this retirement incentive program.
  1. Interested employees must notify their managers and their respective Retirement Office by November 30, 2011 of their intent to separate from employment by December 31, 2011 and retire effective January 1, 2012.
  1. The incentive is a $12,000 one-time taxable payment to be paid on January 6, 2012 (which is the payday for the pay period ending January 1, 2012). The payment to part time employees will be prorated.
  1. Thisplanisapplicable onlytosuchemployeeswho voluntarilyseparatefrom employment by December 31, 2011 and retire effective January 1, 2012.
  1. Thespecial, one-time voluntary retirementincentiveprogramisnot anemployeeright.Employeesmust meet the eligibilitycriteriaandtermsoftheprogram.

RULES AND ELIGIBILITY REQUIREMENTS

  1. This isaspecial, one-timevoluntary retirement incentiveprogramofferedtoeligibleGeneral Governmentemployees.Suchemployeesmustmeetalleligibilityrequirementstobeapprovedforthe voluntary retirementincentiveprogram,andtheCityretainsthe abilitytomakethe finaleligibility decisions.
  1. Thisvoluntaryretirementincentiveprogramincludesaone-time,cash,taxabledirectpayment of $12,000 payable on payday January 6, 2012. The payment to part time employees will be prorated, based on their work hours. For example, an associate with a 20 hour work week would receive $6,000.
  1. Anemployeeapplyingforthevoluntaryretirementincentivemustbeeligibleto retireunderTacoma Employees’ Retirement System (TERS) retirement plan, or, for members of Local 31 or the Professional Public Safety Managers Association, under a negotiated agreement.
  1. Employeesapprovedfortheretirementincentiveagreenottofilefor unemployment benefitsduetoseparationofemploymentfromtheCity.
  1. Employeesapprovedforthe voluntary retirementincentivearenoteligibleforrehireasaregular,benefited,permanent employee.
  1. The deadline to apply for this retirement incentive is no later than 5:00 pm, November 30, 2011.
  1. Thedeadlinetoretireforapprovedemployees isJanuary 1, 2012.
  1. Enrolleeswillsignanagreementthatoutlines theparameters,eligibilityandterms ofthespecial, one-time voluntary retirementincentiveprogram.

I hereby certify that I have read, understand, and agree to the above rules and eligibility requirements.

Employee Signature Date

Please submit the completed and signed application to your Department Director