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RBUSD board approves resolution to explore PARS retirement-incentive program
Summary
The Redondo Beach Unified board adopted a resolution authorizing staff to work with PARS to open an exploratory enrollment window for a contingent retirement-incentive program; the district will analyze enrollments and projected fiscal impact before any final commitment.
The Redondo Beach Unified School District Board of Education on a unanimous voice vote authorized staff to proceed with a contingency-based retirement-incentive program design with Public Agency Retirement Services (PARS), opening an exploratory enrollment window for eligible employees.
PARS executive vice president Dennis Yu told the board the program under consideration would offer certificated nonmanagement employees an annuity equating to about 85% of final pay and classified nonmanagement (CSEA) employees about 50% of final pay, with the district spreading the program cost over five years. Yu said the…
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