| | | | | | | | Meeting Date:
| December 15, 2020 | Agenda Item:
| Request Adoption of Resolution No. 19-2020/21: Regarding Public Agency Retirement Services (PARS) to provide a retirement incentive program supplementing STRS/PERS offer to eligible employees who meet the guideline criteria. | | Responsible Staff:
| Todd Lile, Superintendent
Kent Albertson, Chief Human Resources Officer
Arelis Garcia, Chief Financial Officer | | Agenda Placement: | New Business | | Effective Dates: | 12/16/2020 |
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| | | | | | | | The Madera Unified School District has worked with Public Agency Retirement Services (PARS) to design a Supplementary Retirement Plan (SRP), which is a retirement incentive that is designed to encourage senior employees at the top of the salary schedule to retire early. The goal of the program is to generate savings, or at a minimum cost to the District, no cost to the District by increasing the number of retirements in the 2020-21 school year. |
The Supplementary Retirement Plan (SRP) would provide participating employees with a tax-qualified annuity based on the employee’s Final Pay. This annuity is paid for by the District over a five-year period. The program requires all employees to resign from District employment by the end of the 2020-21 school year. Approximately 440 employees are eligible for the offer. |
Projected savings to be determined by the number of participants. |
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Community Compact Core Values
These questions frame our decisions when considering expenditures and initiatives. We want our budget, programs, and priorities to be aligned to our vision, mission, goals, beliefs, and values to ensure we're moving the district in a positive direction our community and trustees believe in and support.
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Equity Before Equality
Will this prioritize Equity?
| | Student Centered
Is this focused on students' needs? | | Collaborative Culture
Will this facilitate a collaborative culture?
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| X |
Excellence for All
Will this promote excellence for all?
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Learning Organization
Will this further the development of our learning organization?
| | Community Relationships
Will this foster and deepen relationships with our community partners? | X | Results Oriented
Will this be measured effectively and results oriented?
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HONESTY + COMPETENCY = TRUST
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Madera Unified Strategic Goals
Check the LCAP Pillar supported by this item.
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Pillar 1:
Equitable access to rigorous high-level programs
| X |
Pillar 3:
Safe and healthy environments for learning and work
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Pillar 2:
Data-driven professional learning and collaboration
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Strong relationships with families and community
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Governing Board of Trustees' Goals
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Clarity and Consistency at All Levels
| X | Excellence in All Things
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Changing Perceptions & Mindsets of Staff and Community
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| | | | | | | | | This item complies with the following Board Policy(ies) and Board Bylaw(s): |
| This items fulfills/complies with Board Policy through the following ways: |
| Superintendent's Recommendation to the MUSD Governing Board of Trustees: |
| The Superintendent recommends adoption of this resolution. |
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