Agenda Item
Meeting Date: 6/8/2020 - 6:00 PM
Category: Business/Action Items
Type: Action
Subject: 18.1 Review and Potential Approval of PARS (Public Agency Retirement Services) Supplementary Retirement Plan
LCAP (Local Control Accountability Plan) Goal:
Goal 1: All students will receive a high quality education in a safe and welcoming environment with equitable and high expectations, access to technology, and instruction in the California State Standards that prepare them for college and/or career.
Policy:
Enclosure: MDUSD PARS Presentation
Summary Report & Additional Materials
File Attachment:
MDUSD PARS presentation.pdf
02 Summary Report & Additional Materials - Revised 200604bl (2).pdf
Summary: MDUSD had initially contemplated granting PARS Supplementary Retirement Plan to all employees at the May 28, 2020 board meeting. Following careful consideration of the fiscal implications of the PARS supplementary retirement plan offering, which closed on May 27, 2019, administration is recommending a select subset of the eligible applicants for approval and implementation. These three groups generate mutual benefit to themselves and MDUSD. All other groups generate a negative fiscal impact to MDUSD and therefore can not be recommended.

The following will be granted PARS effective with Board approval:

Certificated Non-Management - 84 employees
Classified Non-Management - 67 employees
Clerical/Secretarial/Technical - 37 employees

The net savings to MDUSD for granting PARS to these three groups is $1.7M in 20/21, and incrementally decreasing amounts in the subsequent 4 years, provided MDUSD only replaces 85% of all participants.

Administration is recommending approval of PARS for the Certificated Non-Management, Classified Non-Management, and Clerical/Secretarial/Technical.
Funding: General Fund
Fiscal Impact $1,700,000 for the 20/21 School Year
Recommendation: Move to Approve PARS Supplementary Retirement Plan
Approvals:
Recommended By:
Signed By:
Niccole Helton - Administrative Assistant
Signed By:
Dr. Lisa Gonzales - Chief Business Officer
Signed By:
Cesar Alvarado - Associate General Counsel
Signed By:
Robert Martinez - Superintendent