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312 <br /> <br />$250,000.00 budgeted for the W.W. Flowe Park grant match as follows: $75,000.00 <br />toward W. W. Flowe Park and $175,000.00 to upgrade school playgrounds to minimum <br />standards as suggested by Commissioner Niblock. <br /> <br />Library <br /> <br /> Board members asked the County Manager to work with the City of Concord to <br />develop a proposal for the consolidation of the two library systems. <br /> <br />Retirement Incentive Plan <br /> <br /> UPON MOTION of Commissioner Mills, seconded by Commissioner Carpenter and <br />unanimously carried, the Board amended the Retirement Incentive Plan approved by <br />the Board on May 19 to increase the minimum incentive from one year to the <br />equivalent of two full years of longevity payments with this benefit to be <br />extended to all employees for regular or early retirement. The revised Plan as <br />approved by the Board was as follows: <br /> <br /> RETIREMENT INCENTIVE PLAN <br /> for <br />Cabarrus County Employees Receiving Longevity Payments <br />As of July 1, 1997 <br /> <br />PURPOSE: To encourage eligible employees to consider an accelerated regular or <br />early retirement because of the proposed financial incentives. <br /> <br />ELEMENTS OF THE PLAN: <br /> <br />mo <br /> <br />Bo <br /> <br />Employees qualified to receive full retirement benefits under the North <br />Carolina Local Governmental Employees' Retirement System choosing to <br />retire during the plan's time limit, shall be eligible to receive the <br />equivalent of two (2) full years of longevity payments. <br />Any employee eligible for early retirement electing to retire during the <br />plan's time limit, shall receive up to the equivalent of five (5) full <br />years of longevity payments plus the equivalent of two (2) full years of <br />longevity payments as a bonus. Longevity payments will be based upon the <br />time period (calculated to the nearest month) an employee has remaining <br />until he/she qualifies for full retirement benefits. Example - an employee <br />retiring four years and three months early receives the equivalent of six <br />years and three months longevity payments. <br />Payments under this plan will be paid on the employee's retirement date, <br />at his or her then current longevity rate. <br />To qualify under both of these provisions, employees will have until <br />December 31, 1997, to submit their individual intention in writing to <br />retire. The effective date of their retirement must be June 30, 1998, or <br />before. <br /> <br />Recess of Meetin~ <br /> <br /> There being no further business to come before the Board, Chairman Casper <br />recessed the meeting at 8:05 P.M. until 6:00 P.M. on June 2, 1997. <br /> <br />Clerk to the Board <br /> <br /> <br />