School District Offers Early Retirement Package

Santa Barbara Unified School District this week offered an early retirement package equal to 75 percent of employees’ final base salary, enticing 57 district veterans to enroll. Trustee Kate Parker said it was the most generous offer she’s seen since she’s been on the board. Public Agency Retirement Services, the company that helped structure the deal, estimates that the district will save $215,830 next year and $603,943 over five years. The School Board requested that district staff provide periodic updates on the actual savings. They also voted to reopen enrollment for teachers from 4/11 to 4/27.


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