2013-03-14 / Front Page

School Board Furloughs Teachers

Eight Positions Eliminated; Six Resignations Accepted

Not an online subscriber yet? Sign Up Here
Purchase this online single issue Purchase Now
Note: You must have cookies enabled to use subscription service
Member Functions:
Forgot your password?

Return to top

Could you share what cuts are

Could you share what cuts are being proposed to the district's administration personnel and activities not directly related to child development?

There are three groups that

There are three groups that each contribute 7.5 % of school employee salaries to the pension fund: the employee, the state, and the school district. When the stock market was soaring the state was lenient on collecting from the school districts and they did not need to contribute the full amount while the employees continued contributing at the full 7.5% rate. In 2008 the stock market crashed and the pension fund, like many others with 401k plans, lost a huge amount. Now the state is requiring full payment from school districts as well as payment for the previous years. This is where the pension crisis developed. In short, the school district employees did their share to keep this fund afloat and do not deserve the blame for this crisis. When the state legislature voted to increase school employee pensions by changing the multiplier from 2.0 to 2.5, they changed their own retirement multiplier to 3.0. Are they considering a reduction on their pension plan?

Copyright 2011-2018 Rocket-Courier. All rights reserved.