HomeMy WebLinkAboutDocumentation_Regular_Tab 11K_6/13/1996 Memorandum
To: Village Council
From: Thomas G. Bradford, Village Manager
Date: June 7, 1996
Subject: Early Retirement Incentive Program; Agen a Item
As of this writing, we have completed a proposed ERIP based upon
the work done by Mr. Palmquist, our consultant with Gabriel,
Reuter, Smith and Company of Ft. Lauderdale. However, at this
juncture, we are not providing you with the same as we are giving
serious consideration to a major modification of the ERIP to make
it more attractive to employees, fit the budget of Tequesta and
be in better standing under the law. Accordingly, I will be
providing you with our final ERIP proposal by separate cover
delivered to you prior to your meeting scheduled on June 13 .
Just as a point of information, applicable employees will have 45
days to exercise the ERIP option and seven days to revoke the
same. . Employees exercising the option will be required to sign a
waiver. Persons that exercise the option prior to June 30 and
receive Village compensation on or prior to that time will be
eligible for greater benefits under the Florida Retirement
System. This information will be fully disclosed to the
applicable employees assuming you approve the ERIP proposal.
Should you have any questions in regard to this matter, please
feel free to contact me.
TGB/cm
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