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Board authorizes PARS engagement to study retirement incentives after cost-savings analysis
Summary
Trustees voted to engage Public Agency Retirement Services (PARS) to offer a retirement incentive; the district modeled an 85% benefit scenario estimating 43 participants and potential five‑year savings if positions are not re‑filled, with a $5,000 engagement fee and a 5.5% implementation fee if enacted.
Chief Financial Officer Joshua Braff presented a plan to engage Public Agency Retirement Services (PARS) to offer a retirement incentive for eligible CalSTRS/CalPERS employees. Under the preferred 85% benefit scenario, staff estimated 43 participants (19 certificated nonmanagement, 2 certificated management, 21 classified nonmanagement, 1 classified management/confidential). The packet modeled replacement salaries and health‑care costs and projected that, if certain positions were not refilled, certificated savings could reach about $10 million over five years; the initial engagement fee is $5,000 and the implementation fee would be 5.5% of the total dollar amount if the district proceeds with payments.
Trustee Lumetta moved to authorize engagement with PARS; Trustee (speaker 20) seconded. The board proceeded with a roll-call vote; trustees recorded "aye" and the motion passed. Staff said packets would be mailed to eligible employees mid‑December, an orientation would occur in January, and an employee enrollment window would close on Feb. 13, with a March 10 board analysis before any resignations are accepted.
