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Meeting Date:
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3/21/2018 - 3:45 PM
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Category:
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Consent Calendar
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Type:
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Action
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Subject:
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11.19 BUSINESS: Resolution No. 24:17-18 - Resolution of the Board of Trustees of the Perris Union High School District Amending its Retirement Stimulus Plan
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Strategic Plan:
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Enclosure
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File Attachment:
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Summary:
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The Board of Trustees approved Resolution No. 23:17-18 on February 21, 2018, offering a Retirement Stimulus Plan to Certificated and Classified employees of the District. To be eligible, Certificated employees must be at least sixty (60) years of age by June 30, 2018. Classified employees must be at least fifty-five (55) years of age and have provided a minimum of ten (10) years of service to the District by June 30, 2018. Eligible employees may elect to receive an annual contribution of up to ten thousand dollars ($10,000) towards health and welfare benefits until 65 years of age, except that Classified employees are only eligible for this annual contribution for a maximum of five (5) years. Alternatively, in lieu of the health and welfare benefits contribution, eligible employees may instead elect to receive a one-time bonus incentive of twenty-five thousand dollars ($25,000).
The administration is recommending lowering the minimum age for Certificated employees to fifty-five (55) years of age, but also for these employees who would be newly eligible to also have provided a minimum of ten (10) years of service to the District by June 30, 2018. Further, like Classified employees who are eligible at age fifty-five (55), the annual contribution towards health and welfare benefits would only be provided for a maximum of five (5) years. The deadline for newly eligible employees would also be extended to March 28, 2018.
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Funding:
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The savings generated from this item will be included in the 2018-19 adopted budget and multi-year projections.
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Recommendation:
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It is recommended that the Board of Trustees adopt Resolution No. 24:17-18 - Resolution of the Board of Trustees of the Perris Union High School District Amending its Retirement Stimulus Plan.
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Approvals:
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Recommended By:
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Signed By:
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Candace Reines - Deputy Superintendent
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Signed By:
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Grant Bennett - Superintendent
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Vote Results:
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| Original Motion | | Member David Nelissen Moved, Member Anthony T. Stafford, Sr. seconded to approve the Original motion 'It is recommended that the Board of Trustees adopt Resolution No. 24:17-18 - Resolution of the Board of Trustees of the Perris Union High School District Amending its Retirement Stimulus Plan.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Edward Garcia, Jr. | Yes | | Dr. Jose Luis Araux | Yes | | Anthony T. Stafford, Sr. | Yes | | David Nelissen | Yes | | Carolyn Twyman | Yes | |
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