Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City discloses costs for proposed early retirement incentive; no approval tonight
Summary
City attorney disclosed estimated costs for a proposed early retirement incentive program: up to 12 participants at $25,000 each (total $300,000) plus payroll taxes; council will consider formal approval at least two weeks later.
The City Council heard a public disclosure July 23 of anticipated costs for a proposed early retirement incentive program required under Government Code section 7507, but did not vote on the program. Under the proposal previewed by special counsel Isabelle Soffy of Best, Best & Krueger, eligible employees who meet CalPERS service-retirement criteria could receive a $25,000 lump-sum incentive. The program would be limited to 12 participants, for a maximum incentive payout of $300,000, with estimated employer payroll taxes of $22,950. Council members were…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
