Item Coversheet

December  17, 2018

Board Item - C.-2.

SERP and Resolution No. 4594.

Superintendent's Recommendation:

* Approve the Supplemental Early Retirement Plan (“SERP”), and adopt Resolution No. 4594, Approving a Supplemental Early Retirement Plan (SERP), and authorize staff to offer a cost neutral early retirement incentive to all employees.


District staff has determined that it is in the best fiscal interest of the Sweetwater Union High School District and its employees to offer to eligible employees a retirement incentive.


Furthermore, the board of trustees, at their October 22, 2018, Board Meeting, approved an agreement with Public Agency Retirement Services (PARS) for the purpose of making available a Supplemental Early Retirement Plan, supplementing STRS/PERS.


Resolution No. 4594, codifies the process and authorizes the district’s PARS Plan Administrator to execute the contracts, custodial agreements, and other legal documents related to the plan on behalf of the district, along with any additional actions that are necessary to maintain the district’s participation in the plan, as well as to maintain compliance of any relevant regulation issued.


Additionally, starting with Fiscal Year 2019-2020, the district will not engage in offering a retirement incentive to any district staff or group until the 2018-2019 SERP is fully paid.


This Board Agenda Item supports LCAP Goal 4, coherent and transparent systems, because it provides information on staff communication to employees regarding an early retirement incentive.


For questions regarding this board item, please contact Jenny Salkeld at 619/691-5550 or, or Jennifer Carbuccia at 619/407-4940 or

Fiscal Impact:

Refer to attached presentation for current and out year financial projections (slide no. 8).
Reso 4594Resolution Letter
PresentationBackup Material
14. Item C-2 - AUDIO CLIP - 12 17 18Cover Memo
15. Item C-2 - AUDIO CLIP - 12 17 18Cover Memo
16. Item C-2 - AUDIO CLIP - 12 17 18Cover Memo
17. Item C-2 - AUDIO CLIP - 12 17 18Cover Memo