HomeMy WebLinkAbout7.D. Early Retirement Incentive General Business
SHAKC)PEE
TO: Mayor and City Council
Mark McNeill,City Administrator
FROM: Kris Wilson,Assistant City Administrator
DATE: 06/24/2014
SUBJECT: Early Retirement Incentive
Action Sought
The Council is asked to consider authorizing an Early Retirement Incentive program to be offered to full-time
employees prior to the start of the 2015 budget year.
Background
At the meeting Tuesday evening,the Council will be asked to consider authorizing an early retirement incentive for
employees that meet certain eligibility requirements related to a)years of service to the City of Shakopee and b)
proximity to full-retirement eligibility. The proposed incentive will take the form of a combination of severance
pay and continue insurance contributions for a set period of time.
Requested Action
Following a staff presentation,the Council will be asked to discuss and provide further direction to staff on a
potential incentive program.
Attachments: