School District to Discuss Offering $20K for Early Retirements

Versión en español

The Board of Education of the will meet Tuesday night to take up items that include possible $20,000 incentives for employees who retire early.

The incentives are being proposed for eligible employees "to reduce staff and/or to reduce future labor cost," according to memoranda sent from Superintendent Mark Svarna to board members.

At least four resolutions impacting different groups of employees have been drafted for board consideration.

The school district would fund the $20,000 incentives for qualified, full-time employees, to be paid in two $10,000 installments in September 2012 and September 2013.

The district expects to see a sustantial savings from the program, but the exact cost will not be known until the participating group retires.

Eligible employess would need to be 55 years old or more as of June 30, 2012 and qualified to retire from the California State Teacher Retirement Systems (CalSTRS) and California Public Employee Retirement System (CalPERS) on June 30.

Employees who decide to participate must present their resignations fro the district no later than April 2, 2012, with an effective date of June 30, 2012.

The board meeting will take place 6 p.m. at the District Administration Center Board Room, 3699 N. Holly Ave.