March 23, 1983
To: All University Employees
From: President Gail Fullerton
Subject: Golden Handshake
Since many employees have expressed interest in the status of the Golden Handshake, I thought you would like to know that at its meeting on March 22 the Board of Trustees passed the following resolution:
Resolved, By the Board of Trustees of The California State University, that in accordance with Chapter 680, Statutes of 1982, it elects to exercise the provisions of Education Code Section 22731 and Government Code Section 20816, contingent upon the receipt of necessary authorizations consistent with provisions of the law and the Executive Order; and be it further
Resolved, That the staff be directed to develop and submit, in accordance with the Governor's Executive Order No. B-102-82, the necessary supporting materials for a fiscal review of the CSU's participation in the program; and be it further
Resolved, That the 120-day period during which retirements under this program shall be effective will be from April 18, 1983 to August 15, 1983.
There are still several steps to be taken before this Golden Handshake is fully approved by the State. The Department of Finance, for example, must review financial data to make sure the savings will be realized, but we can now be hopeful the program will occur.