Common use of Management of Program Clause in Contracts

Management of Program. A. An Early Retirement Incentive Program has the potential to create large financial liabilities for the District if it is not carefully managed. It is the intent of this District to preserve flexibility in the program design to respond to changes in the financial and operating environment. B. Periodic Review - at least once each fiscal year, the Superintendent shall present to the Board of Directors an analysis of all existing and planned incentive programs, including: 1. An estimate of current and future financial impacts on the District. 2. Recommendations for design of the program for the next year. C. The District will not undertake any early retirement incentive program unless analysis by the District indicates that the total cost, over the life of the program, will be no greater than it would be if participating employees had continued working until the normal retirement age for full social security benefits. D. Any change that may be made in the program will affect employees who retire after the change but will not affect the benefits of retirees currently enrolled in the Early Retirement Incentive Program at the time the change is made. E. Offering a Program Each Year Not Assured - This policy is not intended to imply that the District will offer an early retirement incentive program each year. Each year, the Board of directors shall decide whether to offer a program for the following year, based upon consideration of the overall good of the District, including impacts on finances, staffing and management resources. POLICY PROVISIONS

Management of Program. A. An Early Retirement Incentive Program has the potential to create large financial liabilities for the District if it is not carefully managed. It is the intent of this District to preserve flexibility in the program design to respond to changes in the financial and operating environment. B. . Periodic Review - at least once each fiscal year, the Superintendent shall present to the Board of Directors an analysis of all existing and planned incentive programs, including: 1. : An estimate of current and future financial impacts on the District. 2. Recommendations for design of the program for the next year. C. . The District will not undertake any early retirement incentive program unless analysis by the District indicates that the total cost, over the life of the program, will be no greater than it would be if participating employees had continued working until the normal retirement age for full social security benefits. D. . Any change that may be made in the program will affect employees who retire after the change but will not affect the benefits of retirees currently enrolled in the Early Retirement Incentive Program at the time the change is made. E. . Offering a Program Each Year Not Assured - This policy is not intended to imply that the District will offer an early retirement incentive program each year. Each year, the Board of directors shall decide whether to offer a program for the following year, based upon consideration of the overall good of the District, including impacts on finances, staffing and management resources. POLICY PROVISIONS