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7 <br />This is a voluntary Program. Any employee who believes that he or she is being coerced or pressured <br />to retire should report this to the Human Resources Director. Employees considering participation in this <br />Program are advised to consult with an attorney prior to executing the Election and Release Form. <br />3. BENEFITS AVAILABLE UNDER THE PROGRAM <br />Eligible employees who elect to participate in the Program and comply with all requirements of <br />the Program shall receive in consideration for their participation in the program an incentive <br />payment based on their base annual salary and years of service in a lump sum as shown below. <br />The lump-sum payment will be made within 30 days following the effective date of retirement <br />and will be subject to the usual deductions. The lump sum payment is an incentive payment and <br />will not be considered in the final compensation amount used for the calculation of retirement <br />benefits as provided in the North Carolina Local Government Employees Retirement System <br />guidelines. <br />Employees will receive any earned but unused vacation and, in addition, longevity pay prorated <br />to the date of retirement. Vacation and prorated Longevity Pay will be in the employees final <br />pay check in accordance with County policies and procedures; these payments will be included <br />in the calculation of the employee's retirement benefits. <br />An employee will receive applicable benefits as provided in the Orange County Personnel <br />Ordinance and state and federal regulations. <br />Incentive Amount <br />The amount of an individual employee's incentive is determined by base annual salary as of the last day <br />of employment and years of service as determined by the North Carolina Retirement System. <br />NCLGERS Service <br />Credit # of Weeks Salary <br />Paid as Incentive <br />5 but less than 10 years 6 weeks <br />10 but less than 15 years 8 weeks <br />15 but less than 20 years 10 weeks <br />20 but less than 25 years 12 weeks <br />25 but less than 30 years 14 weeks <br />30 + years 16 weeks <br />4. RETIREMENT INFORMATION SESSIONS <br />The Human Resources Department will offer several informational workshops in mid-July. All eligible <br />employees who meet the Program requirements are encouraged to attend the workshops to receive <br />information on a variety of related topics, including Retirement System procedures and Health <br />Insurance. Spouses, domestic partners and significant others may attend these workshops with <br />employees. Please see the proposed schedule of meetings. <br />2 <br />