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Board approves termination of PARS plans; eligible paraprofessionals to enter Social Security
Summary
The board approved parallel resolutions to terminate PARS target-benefit plans for paraprofessionals and to transition eligible new hires into Social Security, with the district to submit termination paperwork to the IRS and implement the transition starting Oct. 12.
The Board of Education voted on Aug. 23 to terminate two PARS (Public Agency Retirement System) target-benefit plans for paraprofessionals and to begin transitioning eligible employees into Social Security.
United Educators of San Francisco Executive Vice President Linda Plack urged approval, telling the board PARS did not provide many retirement protections and that Social Security would offer lifetime benefits…
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