Special Notice / Hearing: None
Vote Required: Majority
To: Honorable Board of Supervisors
From: Sandie Arnott, Treasurer-Tax Collector
Subject: Resolution Certifying the Critical Need for Retiree Appointment
RECOMMENDATION:
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Adopt a resolution authorizing the hiring of retired Financial Services Manager II, Joseph Demee as an extra-help employee to provide assistance with training to his successor, pursuant to Government Code Section 7522.56(f)(1), and finding that the nature of employment and appointment is necessary to fill a critically-needed position during the 180-day post-retirement separation period.
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BACKGROUND:
On September 12, 2012, the California Public Employees' Pension Reform Act ("PEPRA"), codified as Government Code ?7522.56, requires a 180-day separation ("sit-out") period following the date of retirement for non-safety retirees that the public agency employer seeks to re-employ or contract with, unless the employer "certifies the nature of the employment and that appointment is necessary to fill a critically-needed position before the 180 days has passed." Cal. Gov. Code ?7522.56(f)(1).
For the exception to apply in this case, PEPRA requires that the Board of Supervisors, as the employer's governing body, approve, by resolution, the appointment as a regular item at a Board meeting.
DISCUSSION:
The Treasurer's Office is responsible for the receipt, custody, and investment of all monies placed in the County Treasury for County departments, schools, cities, and special districts. The office handles the interest calculation of the investment pool for all the pool participants and the voluntary participants by recording transactions, conducting accounts reconciliations, and accreting and amortizing the investment cost to ensure the accuracy of the interest earnings for all pool participants. The County Investment Pool is currently valued at $4.8 Billion and the office processes over 6,500 investment transactions each year. ...
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