BEAR CREEK TWP. — The Bear Creek Community Charter School on Monday approved a new 403b alternative retirement plan that will eventually help the school curb benefit costs.
The school’s Board of Trustees approved the plan, which will apply to all employees who are not eligible for the state teachers’ retirement plan and who are hired by the school after July 31, 2014.
The school’s board also approved a letter of intent with PenServe Plan Services Inc. for third-party services related to the plan, including constructing the plan and recordkeeping.
Northeast Financial Group Inc. will provide ERISA fiduciary and consulting services for the 403b plan.
The board also approved several motions relative to the construction loan for the new school building. The loan agreement between the Bear Creek Foundation and the U.S. Department of Agriculture will be in the amount of $12.8 million.
In other business, the board:
-Approved a draft budget in the amount of $5.6 million for the 2014-15 school year.
-Approved an Aetna PPO high-deductible plan to replace the previous Health America PPO high-deductible plan for all full-time benefits-eligible employees.
-Accepted the resignations of Diane Evans, part-time housekeeper, and Michael Gross, part-time enrichment paraprofessional, and the retirement resignation of first-grade teacher Barbara Wagner.
-Approved Ray Vitali as soccer coach at an annual stipend of $1,500 and Joe Shedlock as assistant soccer coach at a stipend of $1,000 for the 2014-15 season.
-Approved the appointment of Wendy Lutchko, Kimberly Popple and Scott Sherwood to three-year terms on the board of trustees.
-Appointed Mark Popple to a three-year term on the Bear Creek Foundation’s board of directors, expiring Jan. 30, 2017, and ratified the appointment of Bryant Bynum to a three-year term on the same board effective Oct. 9, 2013 through Oct. 31, 2016.
-Approved a payment between the charter school and the Luzerne Intermediate Unit 18 for hearing support services at an estimated cost of $17,491.
-Had preliminary discussion about a three-year staged implementation of a new expanded science curriculum.