Agenda Item
Meeting Date: 5/28/2020 - 4:00 PM
Category: Business/Action Items
Type: Info/Action
Subject: 11.2 Review and Potential Approval Public Agency Retirement Services (PARS) Supplementary Retirement Program
LCAP (Local Control Accountability Plan) Goal:
Policy:
Enclosure:
File Attachment:
00 Mt. Diablo USD - Board Presentation.pdf
02 Summary Report - Condensed.pdf
PARS - Executive Summary.pdf
Signed MDUSD Board Resolution No. 19-20 (#48) Adoption of PARS.pdf
Sample Contract - PARS.pdf
Summary: The Board of Education will consider the approval of final implementation of the PARS Supplementary Retirement Plan, the District’s retirement incentive for Certificated Non-Management, Psychologists, Certificated Management, Classified Non-Management, Clerical/Secretarial/Technical, and Classified Management and Confidential employees for the 2019-2020 school year according to District Resolution 19/20-48 adopted on May 11, 2020. The decision will be made based on whether it has been determined that the retirement incentive meets the required minimum 70 enrolled employees for the Certificated Non-Management group, 70 employees for the classified non-management group and the District’s fiscal and operational objectives for each other employee group. If approved, all enrollments and resignations associated with the retirement incentive would be confirmed and locked in.
Funding:
Fiscal Impact The ultimate savings or cost of the program will be determined based on the actual number of enrolled employees, resulting replacement employee costs, and the number of positions backfilled. A final analysis based on the actual enrolled employees will be presented to the Board.
Recommendation: Approve Public Agency Retirement Services Supplementary Retirement Program
Approvals:
Recommended By:
Signed By:
Cesar Alvarado - Associate General Counsel
Signed By:
Robert Martinez - Superintendent