|
|
|
|
|
|
|
|
|
Meeting Date:
|
11/21/2019 - 6:30 PM
|
|
Category:
|
Report of the Committee on Accountability, Finance, and Personnel
|
|
Type:
|
Action
|
|
Subject:
|
9. Action on Resolution 1920R-006 Regarding the Early Retirement Window (ERW)
|
|
Strategic Plan Compatibility Statement:
|
Goal 3 Effective and Efficient Operations
|
|
Attachments
|
ERW Presentation.pdf
|
|
File Attachment:
|
|
|
Background:
|
At its meeting on May 30, 2019, the Board referred Resolution 1920R-006 by Director Siemsen to the Committee on Accountability, Finance, and Personnel.
At its meeting on September 26, 2019 the Board adopted the resolution and directed the Administration, in collaboration with the Office of Accountability and Efficiency (OAE), to estimate the impact of
- The current ERW
- Current ERW requirements and extending the period end date to June 30, 2023
- Current ERW requirements and extending the period end date to June 30, 2025
- Current ERW requirements and no end date (permanent change)
- Current ERW requirements but moving at least age from 55 to 57 and no end date (permanent change)
The Administration and the OAE worked closely with the actuarial firm Gabriel Roeder Smith & Company (GRS) to prepare an analysis, which is included in the presentation.
|
|
Fiscal Impact Statement:
|
N/A
|
|
Implementation and Assessment Plan
:
|
|
|
Recommendation:
|
Your Committee recommends extending the Early Retirement Window for three additional years.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Jacqueline M. Mann, Ph.D. - Board Clerk/Chief Officer
|
|
|
|
|
|
|
|
|
|