(A) Employees of the city are eligible to consider an “early retirement” option when the selection of that option will result in a cost savings to the city. The early retirement period is defined as that period of time from which the employee no longer engages in his or her physical duties and responsibilities as a city employee and at the same time retains status as an employee of the city for retirement purposes.
(B) A new leave category is established entitled “termination leave” which provides for the equitable distribution and accounting of the employee's time charges during the early retirement period. A temporary permanent position is authorized for the purpose of hiring a new employee to fill the “early retirement” position. The temporary permanent position terminates the date of the formal retirement date of the early retirement employee.
(C) This policy shall be effectuated, only, by a signed agreement between the employee and the city outlining the procedures and details of each specific employee's individual circumstances.
(Res. 84-11, passed 7-10-89)