School Board Set to Consider Plan for Reducing Retirement Benefits
District officials say current benefits are unsustainable, so they have developed a plan to cap health insurance contributions and severance benefits in retirement and push back the retirement age. School Board members will debate the plan June 27.
The Whitefish Bay School Board's ongoing effort to reduce the cost of retirement benefits has culminated in a plan that will go before the board on June 27. Whitefish Bay School District officials say the district's current retirement benefits are unsustainable, costing the district $3.1 million per year, when last year, for example, the district only set aside $970,000 for retirement benefits. The district formed a special subcommittee eight months ago and has since come up with a plan that brings the annual required contribution to just over $1 million. The school district's cost of providing retirement benefits has ballooned with exponentially rising health insurance costs. At the same time, the amount the district has been able to …
In this Article:
Jay Sykes
10:11 am on Thursday, June 14, 2012
'The last time the state surveyed Wisconsin school districts about hiring practices, in the 2006-'07 school year, they reported receiving more applications for elementary school teaching jobs than any other position, at the rate of 67.43 per job.' -- j/s 4/27/10 http://www.jsonline.com/news/education/92278619.html If 67 teachers apply for each job it's the teachers themselves that are telling us … more ›