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Board approves supplemental early‑retirement plan intended to generate multi‑year savings
Summary
Rialto USD’s board approved a Supplemental Early Retirement Plan (SERP) designed to incentivize eligible employees to retire earlier; staff said the program is expected to generate budgetary savings over a five‑year plan.
The Rialto Unified School District Board of Education approved a supplemental early‑retirement offering at its Jan. 15 meeting, a measure district staff said is intended to create long‑term budgetary savings by encouraging eligible employees to retire and be replaced by lower‑cost hires.
Risk management and human-resources staff described the plan as the district’s third SERP since 2017–18. Lead agent Derek Harris said the program is not routine; it is used when projected savings outweigh the cost of incentives. The board voted to authorize the plan administrator to add eligible participants and to approve related documents and vendor/consultant actions to obtain IRS approval and administer the plan.
Board members voted in favor of the measure; district staff said savings are expected to be largest in the plan’s first year and will decrease as replacement employees progress through salary steps. The plan is to be funded over five years and administered with consultant Kenan Financial Services.
Ending: The board approved the SERP and authorized district staff to finalize plan documents and begin enrollment steps; staff said they will present projected savings and participant counts to the board as the program proceeds.
