NOW is the Time to Analyze a Retirement Incentive for Budgetary Savings in the 2019/20 YearCategories: California Developments,Early Retirement Incentives,PARS News
Public Agency Retirement Services (PARS) can help your district analyze whether it makes it sense to offer an early retirement incentive for fiscal and budgetary success.
Since 1984, PARS has implemented more than 750 incentive programs for 300 school districts, and colleges and other educational agencies. We specialize in customized, locally-controlled early retirement incentives that, if properly designed, can be a win-win solution for unions, employees and administrations.
Below are possible timeframes for implementation:
- Now – District meets with PARS to learn more about the program and discuss its key goals and objectives
- November to January – PARS prepares a free, in-depth analysis to determine the impact/feasibility of an incentive based on your employee census/other information
- December to March – Your School Board decides to move forward and an enrollment window opens. PARS manages this enrollment window to minimize the workload and burden on your staff
- End of School Year – Enrolled employees resign and/or retire and the District’s fiscal savings begin as of July 1, 2020