The County or the applicable agency must pay any participant in the retirement savings plan or the guaranteed retirement income plan severance pay when the participant is separated from service by an affirmative administrative action other than dismissal for cause. An agency may adopt this severance pay plan under an adoption agreement approved by the Chief Administrative Officer.

(a) The County Executive must establish a severance pay plan in Executive Regulations under method (2). The plan must: (1) prohibit severance pay for an employee who admits to or is found to have violated the Ethics Law in the 12 months prior to separation from County employment; and (2) qualify as a severance pay plan under Section 457 of the Internal Revenue Code. (b) The Chief Administrative Officer must administer the severance pay plan. Any employee denied severance pay due under this Section may appeal to the Merit System Protection Board. The Merit System Protection Board may overturn a denial of severance pay only if the denial was arbitrary and capricious. “Sec. 3. Transition. (a) The initial plan year for the retirement savings plan is from October 1, 1994 to December 31, 1994. (b) The Chief Administrative Officer’s first annual report on the status of the retirement savings plan under Section 33-122(h) must be submitted by March 1, 1995.''