Misleading Narrative: A SRP (Supplemental Retirement Program which incentivizes long-term faculty to retire early) will definitely be able to save the District large amounts of money.
Facts:
SRPs can save a district money and SRPs can also lose a district money. It all depends on the details.
The District was not able to provide PFF any data showing that our last SRP saved the District money. Indeed most people (administration included) believe it may have cost more money than it saved.
The District budget for this year shows that we are still paying for the last SRP, at over $1 million (see budget line items, 39101, 391201, 392102, 392202)
PFF requested retirement data from the District in the fall 2019 term, but we waited months to receive it due to leadership changes and the growing fiscal crisis. Unfortunately, the initial information we finally received did not include costs for backfilling positions. However, PFF is able to do its own calculations and is currently using the data to make determinations. We are using a data-driven model that allows for various contingencies.
We remain open to any ideas the District brings to the negotiation table and will always approach these ideas with good faith bargaining and due diligence. We also continually seek out faculty input before making any decisions on faculty’s behalf.
Bottom Line: PFF will make sure that if an early retirement plan is implemented it will actually save the college money and not harm the students, college, or faculty and staff.