July 23, 2014 at 2:10 p.m.
Contract for JCTA approved (03/19/04)
A ground-breaking contract with the Jay Classroom Teachers Association won approval from the Jay School Board Thursday.
The contract, which had been approved by members of the JCTA Wednesday, addresses a multi-million dollar unfunded liability facing the school corporation in connection with teacher severance retirement benefits and retiree health insurance.
Thursday’s vote was the second by the school board to approve a tentative agreement; a similar accord in January was rejected by JCTA members.
Superintendent Barbara Downing said Thursday the new contract calls for the same total dollar amount in the buyout of teacher retirement benefits but distributes that amount somewhat differently from the earlier version.
Funds for the buyout would come from a pension bond issue, a form of financing which was created by the Indiana General Assembly for just such a purpose. The ability of school corporations to issue pension bonds expires at the end of 2004.
The bonds will be paid off with property tax revenues that otherwise would have gone for capital projects and will not require an addition to the tax rate.
Downing said the pension bond issue will total about $8 million, while actuaries had estimated the unfunded liability facing the school system at more than $36 million.
Under prior contracts, teachers had been able to accumulate up to 220 unused sick days and receive a lump sum payment upon retirement; the new contract caps accumulated sick days at 90.
Teachers will receive a buyout based upon their accumulated sick days and a buyout for future retiree health insurance benefits. The mechanics of the buyout differ for teachers with 11 or more years of experience and those with less experience. The new accord also revises contract language related to the teachers’ sick leave bank to make it more flexible for teachers facing a catastrophic illness.
The contract also calls for a 2 percent across the board pay increase for teachers with up to 19 years of experience, a 3 percent increase and an additional $500 lump sum for teachers with 20 or more years experience, and a 4 percent increase for teachers at the top of the salary scale.
For teachers with bachelor’s degrees, that translates into raises of $1,485 to $1,791 when combined with incremental raises based upon experience. For teachers with master’s degrees, it translates into raises of $1,583 to $4,700 when combined with incremental experience increases.
The new contract was approved on a 6-0 vote, with board member Doug Inman absent.
Board members also voted 4-2 to go ahead with plans to advertise for an assistant principal at East Jay Middle School.
Downing told the board she had double-checked the legal requirements with the Indiana Department of Education and confirmed that because of its enrollment EJMS must have an assistant principal.
Board members Bryan Alexander and Ted Champ opposed the decision.[[In-content Ad]]
The contract, which had been approved by members of the JCTA Wednesday, addresses a multi-million dollar unfunded liability facing the school corporation in connection with teacher severance retirement benefits and retiree health insurance.
Thursday’s vote was the second by the school board to approve a tentative agreement; a similar accord in January was rejected by JCTA members.
Superintendent Barbara Downing said Thursday the new contract calls for the same total dollar amount in the buyout of teacher retirement benefits but distributes that amount somewhat differently from the earlier version.
Funds for the buyout would come from a pension bond issue, a form of financing which was created by the Indiana General Assembly for just such a purpose. The ability of school corporations to issue pension bonds expires at the end of 2004.
The bonds will be paid off with property tax revenues that otherwise would have gone for capital projects and will not require an addition to the tax rate.
Downing said the pension bond issue will total about $8 million, while actuaries had estimated the unfunded liability facing the school system at more than $36 million.
Under prior contracts, teachers had been able to accumulate up to 220 unused sick days and receive a lump sum payment upon retirement; the new contract caps accumulated sick days at 90.
Teachers will receive a buyout based upon their accumulated sick days and a buyout for future retiree health insurance benefits. The mechanics of the buyout differ for teachers with 11 or more years of experience and those with less experience. The new accord also revises contract language related to the teachers’ sick leave bank to make it more flexible for teachers facing a catastrophic illness.
The contract also calls for a 2 percent across the board pay increase for teachers with up to 19 years of experience, a 3 percent increase and an additional $500 lump sum for teachers with 20 or more years experience, and a 4 percent increase for teachers at the top of the salary scale.
For teachers with bachelor’s degrees, that translates into raises of $1,485 to $1,791 when combined with incremental raises based upon experience. For teachers with master’s degrees, it translates into raises of $1,583 to $4,700 when combined with incremental experience increases.
The new contract was approved on a 6-0 vote, with board member Doug Inman absent.
Board members also voted 4-2 to go ahead with plans to advertise for an assistant principal at East Jay Middle School.
Downing told the board she had double-checked the legal requirements with the Indiana Department of Education and confirmed that because of its enrollment EJMS must have an assistant principal.
Board members Bryan Alexander and Ted Champ opposed the decision.[[In-content Ad]]
Top Stories
9/11 NEVER FORGET Mobile Exhibit
Chartwells marketing
September 17, 2024 7:36 a.m.
Events
250 X 250 AD