Pleasanton School Board Planning on Adding New Debt to Offer Golden Handshake Packages
Original post made by long time parent, Another Pleasanton neighborhood, on Mar 13, 2012
Another waste of taxpayer funds to pay people to not work. We will be locked into these payments so it is another liability of the district that will need to be paid, probably causing more layoffs in the future. It also demonstrates that the district feels the salary we offer experienced teachers is too much and instead of adjusting the salary schedule, we are getting rid of some good experienced teachers (the same teachers the district keeps saying they want to keep).
The report states that this will be funded through post-employment contributions into a 403(b) plan. Is this the same plan that we currently have for free retirement medical insurance that the audited financials say is ZERO PERCENT (0%) funded? Meaning we offer a post-employment benefit but do not pay for it now and instead add more liabilities to the district?
This must be stopped. It occurs just about every year. This is insane.