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This is a voluntary Prvgrarn. Away employee wl~o believes that he ar she is being coerced or pressured <br />to retire should repo~~t this to the Human Resources Director. Employees considering pa~~ticipatio~a ixa this <br />Program are advised to consult with an attor~~ey prior to executing floe Election and Release Fo~~.n. <br />3. BENEFITS AVAILABLE ~JNDER THE PR~GRAIVI <br />® Eligible employees who elect to participate in floe Program and comply with all requireaaents of <br />floe Program shall receive In consideration for their participation in the program an Incentive <br />payment based on their base a~anual salary and years of se~~vice in a lump sun as shown below. <br />Tlae lump-s~uaa payment will be made within 30 days following the effective date of retirement <br />and will be subject to floe usual deductions. The lump sum payment is an incentive payment and <br />will not be considered in tine final compensation amount used for the calculation of retirement <br />benefits as provided in the No~~tla Carolina Local Gove~~aanent Employees Retirement System <br />guidelines. . <br />• Exaaplayees will receive any ea~~ned but unused vacation and, in addition, longevity pay prorated <br />to tine date of reti~•ennent. Vacation and prorated Longevity Pay will be in the employees final <br />pay clnecl~ in accarda~ace with County policies and procedr~res; these payments will be included <br />in floe calculation of tine employee's retirement benefits. <br />An employee will receive applicable benefits as provided in the grange County Personnel <br />ordinance and state and federal regulations. <br />Incentive Amount <br />Tine a~ano~uat of an individual employee's incentive is dete~~.nined by base annual salary as of floe last day <br />of ennploynnent and years of se~~vice as dete~~.ined by the North Carolina Retirement System. <br />NCLGERS Service <br />C~•edit # of Weeks Salary <br />Paid as Incentive <br />5 but less than 10 years 6 weeps <br />10 but less than 5 years S weeks <br />15 but less Haan Zo years 10 weeps <br />ZO but less than 25 years 1 Z weeps <br />Z5 but less tha~a 30 years 14 weeps <br />30 + years 16 weeps <br />4. I~TIB,ENIENT IN~'4RNIATIUN SESSIONS <br />Tine Hunan Resources Depaz~tment will offer several inforinational workshops in m.id~July. All eligible <br />employees wino meet tine Program requi~Nements are encouraged to attend the worl~slnops to receive <br />information on a variety of related topics, including Retirement System procedures and Health <br />Insurance. Spouses, domestic pa~~tners and significant others naay attend these worl~slnops with <br />employees. Please see floe pzoposed schedule of meetings. <br />2 <br />