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Board approves supplemental early retirement plan; district projects $30M-plus floor in net savings
Summary
To reduce future payroll costs and avoid larger layoffs, the board approved a district SERP. Keenan Financial Services and district HR presented participation and cost estimates; staff said early retirements combined with 30–40% position non-replacement would yield meaningful multi-year savings.
The San Francisco Board of Education voted unanimously Wednesday to approve a Supplemental Employee Retirement Plan (SERP) designed to encourage eligible long‑service staff to retire this year and thereby reduce the number of planned layoffs.
Keenan Financial Services and district human resources staff presented participation and savings estimates. Keenan reported the program exceeded initial expectations: 572 employees requested…
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