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Board hears review of retirement "pickup" benefits; staff estimate about $500,000 annual cost
Summary
District staff presented a comparative survey of retirement pickup practices across local districts, described differences between "pickup" and "pickup on the pickup," and recommended the board discuss options; trustees agreed to a follow-up work session to evaluate potential changes.
Mark Souza and district staff briefed the Little Miami Local School District board on June 30 about administrative retirement "pickup" benefits and a recent survey of neighboring districts that examined who receives pickup and whether districts use "pickup on the pickup."
At the meeting, staff explained the technical difference: regular pickup pays the retirement percentage on salary (for example, 10% for some non-teaching plans); pickup on the pickup adds the retirement contribution to salary and calculates the retirement percentage on the higher total, producing a higher effective rate. "So that's pickup on the pickup," a…
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