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Board approves revised post‑retirement benefits plan design with tiered eligibility
Summary
The board approved a tiered post‑retirement benefit plan that expands eligibility to more employees, implements July 1, 2025, and projects long‑term savings of about $1.3 million over 30 years.
PORT WASHINGTON, Wis. — The Port Washington‑Saukville School District Board of Education on May 19 approved a revised post‑retirement benefits plan design that creates a four‑tier system to expand eligibility and adjusts benefits for newer hires.
Superintendent Michael and district finance staff presented the plan, which implements a tiered approach so that all employees become eligible for some form of post‑retirement benefit. The district will implement the plan on July 1, 2025. Foster & Foster modeled options for the district; staff told the board the…
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