December 6 2017 CUSD BT Meeting Agenda Item #12 RESOLUTION NO. 1718-29, RETIREMENT INCENTIVE FOR CLASSIFIED NON-MANAGEMENT TEAMSTERS 952 EMPLOYEES

Board Meeting Agenda page 205

Board Audio 

 

 

Approval of Resolution No. 1718-29 Retirement incentive designed to encourage senior Classified Non-Management Teamsters employees to retire early. 

The SRP would provide participating employees with a tax-qualified annuity based on total District contributions of 60 percent of their final year salary. This annuity is paid for by the District over a five-year period. The program requires all employees to resign from District employment at the end of the school year, no later than June 30, 2018. Approximately 43 employees are eligible for the offer.