Early Retirement Incentives

10
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 News

A 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.

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19
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

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16
Jan
2021

Voluntary Separation Incentives: Act Now to Evaluate Fiscal Savings for FY 2021/’22

Categories: Early Retirement Incentives,New England Developments,PARS News

As 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.

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10
Jan
2021

Finding Funds During These Difficult Pandemic Times

Categories: Early Retirement Incentives,National Developments,PARS News

As 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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22
Jul
2020

Don’t Overlook this Fiscal Tool in Challenging Times: Voluntary Separation Incentives

Categories: Early Retirement Incentives,National Developments,PARS News

As a result of the COVID-19 pandemic, school districts throughout Connecticut face the paradox of decreasing budgets, due to state and local revenues losses, and increasing costs, due to safety mitigation in transportation, sanitization, temperature checks, personal protective equipment, and technology. With mounting pressure, many school districts are being asked to evaluate layoffs, furloughs, or other austerity measures to create savings. Another option that Superintendents should consider are district-controlled voluntary separation incentives.

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