Wednesday, May 29, 2013

5-30-13 teacher post employment benefits

The Fond du lac School Board has approved  a major change that would affect post employment benefits for teachers and staff.   Superintendent Dr. Jim Sebert says the district is in the process of phasing out the current seven years of health insurance upon retirement… by a tax shelter annuity with four tiers  based on age and experience.  Sebert says employees who are 55 and older would be grandfathered in.  "People that are 50 and above there's another tier with a little less health insurance, six years instead of eight.  In both cases there would be no dental insurance and the high deductible plan, $2000 single and $4000 family, the employee would bear the full responsibility,"  Sebert said.   Sebert says tiers three and four would be for newer employees and would set up a tax sheltered annuity based on their age and experience.  Sebert says the district could save up to $60 million over the next 30 years.  He says a  District committee has been meeting for the last  couple of months to discuss changes that would allow the system to be sustainable for the long haul.  "I think we're still being fair and cognizant of people based on their service and their experience, but we're also being responsible financially in terms of seeing what other districts are doing, what the trends are, and what we are going to be able to realistically afford,"  Sebert told AM 1170 WFDL's Between the Lines program.

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