On August 30, 1982, SB 307 was signed into law (Chapter 680, Statutes of 1982). This legislation provided the authority for the Governor to implement what is commonly referred to as the early retirement or "golden handshake" program. The purpose of the legislation was to provide State management with a mechanism to reduce the impact of or to avoid the necessity for personnel reductions by making early retirement available to eligible employees (it should be noted that the program was not intended to be an employee benefit program).