By Dave Fidlin
Correspondent
Retiree benefits for employees of the Waterford Union High School district will continue to be reviewed in the near future, following action taken May 22 by the School Board.
Superintendent Keith Brandstetter presented the school board with information on Trust Secure, a new medical reimbursement plan used to fund post-employment benefits for employees.
“It is designed so that qualified contributions are tax exempt, and there is no cost to the district,” Brandstetter said.
While Trust Secure will be used into the foreseeable future, School Board member Dan Jensen suggested the issue continue to be reviewed.
During the meeting’s discussion, Jensen said Waterford Graded School District recently restructured its post-employment benefit system through a self-funded mechanism.
Jensen serves on both the WGSD and WUHS boards.
“We can save money from healthcare,” Jensen said. “Waterford Graded has an HRA (Health Reimbursement Account) that’s more palatable for taxpayers. It’s based on years of experience.”
Brandstetter said WUHS stands to save money through Trust Secure.
During the discussion, he acknowledged there are a number of options on the table when it comes to retiree benefits. “There are different ways of looking at this,” Brandstetter said. “It’s all about how you want to attack it.”
Brandstetter said he believes it is important for the school district to have a competitive retirement plan, explaining: “it helps us retain good people.”
School Board member Jeff Santaga made a motion to use Trust Select for post-employee benefits for the time being. As part of his motion, other options will continue to be investigated.
Santaga’s motion was approved unanimously.
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