Resolution 2001-09 STATE OF ILLINOIS ) 2/27/01
)ss.
COUNTY OF KENDALL )
RESOLUTION NO. 2001-
RESOLUTION TO ADOPT IIVIRF EARLY
RETIREMENT INCENTIVE
WHEREAS, Section 7-141.1 of the Illinois Pension Code provides that a participating
employer may elect to adopt an early retirement program offered by the Illinois Municipal
Retirement Fund by adopting a resolution or ordinance; and
WHEREAS, the goal of adopting an early retirement program is to realize a substantial
savings in personnel costs by offering early retirement incentives to employees who have
accumulated many years of service credit; and
WHEREAS, implementation of the early retirement program will provide a budgeting
tool to aid in controlling payroll costs; and
WHEREAS, the City Council has determined that the adoption of an early retirement
incentive program is in the best interest of the UNITED CITY OF YORKVILLE;
THEREFORE, BE IT RESOLVED by the City Council of the UNITED CITY OF
YORKVILLE that :
(1) The UNITED CITY OF YORKVILLE does hereby adopt the Illinois Municipal
Retirement Fund early retirement incentive program as provided in Section 7-141.1 of the Illinois
Pension Code. The early retirement incentive program shall take effect on April 30, 2001.
(2) In order to help achieve a true cost savings, an employee who retires under the
early retirement incentive program shall lose those incentives if he or she later accepts
employment with any EVIRF employer in any position.
(3) In order to utilize an early retirement incentive as a budgeting tool, the UNITED
CITY OF YORKVILLE will use its best efforts either to limit the number of employees who
replace the employees who retire under the early retirement incentive program or to limit the
salaries paid to the employees who replace the employees who retire under the early retirement
program.
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(4) The effective date of each employee's retirement under this early retirement
incentive program shall be set by the UNITED CITY OF YORKVILLE and shall be no earlier
than the effective date of the program and no later than one year after that effective date; except
that the employee may require that the retirement date set by the employer be no later than the
June 30 next occurring after the effective date of the program and no earlier than the date upon
which the employee qualifies for retirement.
(5) To be eligible for the early retirement incentive under this Section, the employee
must have attained age 50 and have at least 20 years of creditable service by his or her retirement
date.
(6) The City Clerk shall promptly file a certified copy of this resolution (ordinance)
with the Board of Trustees of the Illinois Municipal Retirement Fund.
If any section, paragraph, clause or provision of this Ordinance shall be held
invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the
other provisions of this Ordinance.
ADOPTED thiQ_day of , 2001, pursuant to a roll call vote as follows:
PAUL JAMES / MARTY MUNNS
RICHARD STICKA MIKE ANDERSON
VALERIE BURD ES ROSE SPEARS
LARRY KOT THOMAS SOWIlNSKI
APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois,
this 22nd day ofia:�, A.D. 2001.
MAYOR
PASSED by the City Council of the United City of Yorkville, Kendall County, Illinois,
;q�
this Day 6f A.D. 2001.
Attest:
- - CITY CLERK
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