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35 <br /> <br />14.6 Exit Incentive Plan (EIP) <br /> <br />An employee who retires with a Service Retirement from the City between and <br />including the date the tentative agreement is ratified and adopted, and June <br />30, 2013, will be eligible to receive a payment under the City’s EIP equivalent <br />to the cost of purchasing two years of additional service credit with CalPERS. <br />Such payment will be made by the City into an account for the retiree within <br />the City Council approved tax deferred IRC Section 401(a) Plan. EIP’s are only <br />offered to those who retire on a service retirement. If an employee has a <br />disability retirement application pending with CalPERS at the time of service <br />retirement, the employee is not eligible for the EIP but remains eligible for the <br />industrial disability retirement. An employee who elects to participate must <br />notify the City in writing no later than three months before their planned <br />retirement date. The details of that Plan are set forth in the Plan Document <br />dated January 1, 2004. The City may amend said Plan from time to time to <br />conform to law and provide for the general administration of the Plan. The <br />employee will sign a release agreement stating they agree with these terms <br />and conditions of the EIP before receiving the benefit. <br /> <br /> <br />SECTION 15. LAYOFF <br /> <br />15.1 Order of Layoff <br /> <br />In the event of a reduction of force, the employee with the least service in the <br />classification effected shall be laid off first. <br /> <br />15.2 Order of Rehire <br /> <br />An employee who is laid off shall be placed, for a period of one (1) year from <br />the date of the employee's most recent layoff, on a rehire list. In hiring for a <br />vacant position in a classification, such rehire list shall take precedence over <br />all other employment lists and the last employee laid off shall be the first <br />employee rehired until the rehire list of employees is exhausted; provided, <br />however, that the employee hired from the rehire list is determined as <br />capable, in the sole opinion of the City, by virtue of prior training and <br />experience with the City of Redwood City to perform the work required in the <br />classification in which the opening exists. <br /> <br />15.3 Break in Service <br /> <br />Service with the City shall be terminated by discharge, resignation, refusal by <br />an employee to accept a reassignment to a related classification as stated in <br />Section 15.1 of this MOU, six (6) consecutive months of unemployment with the <br />City of Redwood City, one (l) year on a rehire list, or the refusal by an <br />employee on the rehire list to report to a rehire assignment made by the City <br />as stated in Section 15.2 of this MOU. <br /> <br /> <br /> <br />6.1.C. - Page 46