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Board hears PARS retirement-plan options and Measure M refunding; accepts Measure M audit
Summary
District staff reviewed PARS retirement-offer scenarios with estimated five-year savings of $1.7M–$2.9M depending on participation, proposed bond refunding that could save roughly $1.8M, and presented a Measure M performance audit with no findings for acceptance.
Dr. Weimer presented two fiscal items the board will consider for future action: a possible PARS (public agency retirement system) incentive to manage personnel-to-revenue ratios and a possible refunding of callable Measure M bonds to take advantage of lower market rates.
On PARS, staff reviewed participation modeling and timing options. Using past experience and PARS analyses, Dr. Weimer said…
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