
Early Retirement Incentives
Nov
2021
Big Spring School District Cuts over $2.3 Million from Budget: PARS Separation Incentive Delivers Big Savings
Categories: Early Retirement Incentives,National Developments,New England DevelopmentsThis year, Big Spring School District in Pennsylvania implemented a PARS Voluntary Separation Incentive, resulting in 16 teacher retirements and over $2.3 million in budgetary savings over the next 5 years due to attritional savings and strategically not replacing several positions.
read more...Apr
2021
Dos and Don’ts of Separation Incentives as a Fiscal Tool for CT School Districts
Categories: Early Retirement Incentives,National Developments,New England Developments,PARS NewsA well-crafted separation incentive can be a win-win approach for management and educational employees to achieve fiscal savings, avoid layoffs, and restructure departments or positions. The key to constructing a successful incentive is considering when and how it should be implemented.
read more...Feb
2021
Myth Busting of Retirement & Separation Incentives
Categories: Early Retirement Incentives,National Developments,New England Developments,PARS News
Voluntary retirement and separation incentives have delivered critical fiscal savings and operational efficiencies for thousands of school districts, but they have to be properly analyzed, designed, and implemented by specialists like PARS and used infrequently. Below we break down
Jan
2021
Voluntary Separation Incentives: Act Now to Evaluate Fiscal Savings for FY 2021/’22
Categories: Early Retirement Incentives,New England Developments,PARS NewsAs we begin 2021 and you start to prepare for next year’s budget, now is the time to assess whether a Voluntary Separation Incentive makes sense for your district or college. Public Agency Retirement Services (PARS) can conduct a complimentary in-depth analysis to determine the fiscal impact of an incentive based on your actual workforce demographics and will customize the design to meet the unique demands of your organization.
read more...Jan
2021
Finding Funds During These Difficult Pandemic Times
Categories: Early Retirement Incentives,National Developments,PARS NewsAs a former superintendent of 17 years, I have always strived to provide the best education in the most fiscally responsible manner wherever I have been fortunate to lead a district. Regardless, of the socioeconomics of my districts, we were always charged with trying to do more with less. I can only imagine the angst affecting superintendents and school committees during this most trying Covid-19 pandemic. In reading articles from across the country, school districts not only have to face a level or decreased spending budget due to decreased state revenues; but have the burden of adding the expenses necessary to address the pandemic. So, what’s a superintendent to do?
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