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<br />CITY OF NEW BRIGHTON <br />VOLUNTARY EARLY RETIREMENT INCENTIVE PROGRAM <br />MAY 26, 2020 <br />Eligibility <br />1.You are in a position that is eligible for this program. <br />2.You are a full-time benefit earning employee. <br />3.You must be eligible during calendar year 2020, through one of the following <br />provisions: <br />a.Employees who have attained or will attain, during 2020, the Rule of 90 <br />(Employees who started in PERA before July 1, 1989 are eligible) <br />b.PERA Coordinated employees who have attained the age of 62 during 2020 <br />and have at least 10 years of fulltime service with the City. <br />c.PERA Police and Fire employees who have reached the age of 5 0 in 2020. <br />VOLUNTARY EARLY RETIREMENT INCENTIVE PROGRAM OPTIONS <br />A.The City will provide the following benefits to an eligible employee who voluntarily <br />elects to take advantage of the early retirement incentive, and retires on or before <br />December 31, 2020: <br />The City will provide the retiring employee with a one -time contribution of <br />$10,000 into the Employee’s Health Care Savings Plan. <br />The City will provide 120 hours of gross pay at the Employee’s current rate of <br />pay. <br />B.Annual leave balances will be paid in accordance with current labor agreements, or <br />City ordinance whichever is applicable.