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Guidelines for Golden Handshake Requests

This document is Attachment B to the letter of Retirement Incentive Program Guidance.
  • Net savings must be demonstrated over each period of time, known as the window period, for the entire group of members electing to participate in the golden handshake incentive program; it is not necessary to show a cost savings for each member. For multiple window periods, a separate net savings analysis should be submitted for each window period.

  • Retirements beyond age 61 will be considered natural attrition (average retirement age per the California State Teachers’ Retirement System is age 61) and no savings will be assumed unless justification is provided and supporting documentation is made available. Under no circumstance will savings be accrued for participants age 65 or older.

  • Savings of up to two years per employee will be allowed, up to age 61. Additional savings will not be assumed unless justification is provided and supporting documentation is made available.

  • If post retirement benefits are normally offered to retirees, the additional benefits should be treated as a cost.

  • Retirement incentives offered annually will be presumed to result in no savings unless justification is provided and supporting documentation is made available. Normal attrition will be presumed to be restored after two years.

  • Requests submitted for certification must include the following documents:

    • Board resolution detailing the retirement incentive offered and the designated window period
    • Signed Certification of Employer Participation, Form MS 1169-1
    • Signed Certification Information, Forms MS 1169-2 and MS 1169-3
    • Signed Employer Certification of Member Eligibility, Form MS 187
    • Cost Savings Analysis Documents or Worksheets
    • Written justifications or explanations, as appropriate

  • The California Department of Education requests a minimum of 30 calendar days to review the request prior to local approval of the incentive.

  • Golden handshake requests should be sent to:

California Department of Education
School Fiscal Services Division
Office of Financial Accountability and Information Services
1430 N Street, Suite 3800
Sacramento, CA 95814

Questions:   Financial Accountability & Information Services | | 916-322-1770
Last Reviewed: Thursday, October 10, 2019
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