Savings Association Retirement Fund - Excel

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Savings Association Retirement Fund - Excel Powered By Docstoc
					                                                                                                           COST SAVINGS MEASURES FUND 01: VERSION 4 4/3/03

                                                   SAVINGS                                                                         COMMENTS
Reduction in Sections (Part-Time Faculty )          7,500,000   This reflects a 30% reduction in sections
Program Discontinuance w/Displacement               1,071,724   This reflects the discontinuance of the 10 programs and the savings after employees exercise displacement rights
Hourly Counseling Reduction/Reassignment            1,900,000   This savings is based on assigning pt counselors to teach human development classes; reassignment of ft to all counseling duties in fund 01
Postpone Sabbaticals                                  156,000   Currently under discussion with the Faculty Association. Association is willing to explore a postponement
Postpone Step Increases                               300,000   Currently under discussion with the Faculty Association. Agreement has not been reached
Postpone Salary Step Decompression                    718,000   Currently under discussion with the Faculty Association. The Association has difficulty with agreeing to this
Early Retirement                                    1,283,500   This assumes that 20 faculty will take an early retirement based on a payment of $30,000
Limited Retirement                                    200,000   It is anticpated that this would attract about 5 faculty at a 50 % reduced salary
Share in Health Benefit Increases                     157,900   This reflects the total savings if all employees pay 50% of the increased cost for 2003-04
Reduction of 13 positions                            372,140 This represents a 27% reduction in academic positions
Furlough (1 week)                                     22,451 The furlough would be scheduled for the 2004 Spring Break.
Teaching Assignment                                   92,304 This would be an alternative to a furlough for those admnistrators who can teach a class during a semester
Share in Health Benefit Increases                            See Faculty above

Unit Employees
Reduction of Postions (51 positions)                2,180,000 This includes the positions initially identified as well as positions tied to the program discontinuance
Postpone Longevity and Step Increases                 155,488 This is currently under discussion with CSEA. They have not expressed an interest in doing this
                                                              This would amount to a 10%reduction in salary; each employee would have a reduction in 4 hrs/wk for 52 weeks:
EDD Workshare Program/Flexible Schedule             2,000,000 need to have flexibility in scheduling employeees
Early Retirement w/reemployment                     1,031,170 Under this proposal employees who retire would be able to come back to work for no more than 120 days for 2003-04
Early Retirement w/Annuity or Cash Paymt              887,420 This option provides for a $5,000 payment. Assumes 20 employees participate In other districts the range is from $5,000 to $7,000
Share in Health Benefit Increases                             See Faculty above
Classified Managers
Reduction of Positions ( 2 positions)                 91,184 The available savings is limited due to the PC rule that requires that we y-rate the persons salary upon demotion. Will ask PC to change rule
Postpone Longevity and Step Increases                        This would reduce only those increments that would be effective in 2003-04 Cannot take away current longevity
EDD Workshare Program                                343,697 This would be the same plan as implemented for regular classified employees
Furlough                                              57,332 Managers would be furloughed during the 2004 spring break - savings per week
Share of Health Benefit Increases                            See Faculty above

Total Savings                                      20,520,310

Sublet 2020 Santa Monica                              480,000 In order of priority
Reduce Shuttle Service                                150,000
Freeze discretionary funds@reduced 2002-03 level    1,113,852 Freezes 03-04 at 02-03 expense projection
Reduce Winter Session evening clss.                   410,000
No Weekend Classes                                            Calculation in process
Restructure Computer Labs                                     Calculation in process
Close Campus for 1 week                               105,000 This is an average savings that could be doubled in certain times of the year

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