July 23, 2014 at 2:10 p.m.
JCTA rejects deal (1/21/04)
Teachers group votes down proposed contract
The Jay Classroom Teachers Association rejected a tentative contract agreement Tuesday over concerns involving contract language.
“It was defeated,” JCTA president John Ferguson said Tuesday afternoon. “We’re going to meet as a group Wednesday and try to refine the language. ... The teachers want it as bad as (school board members) do. We’ll get it.”
The tentative accord, which won 6-0 approval Monday night from the Jay School Board, would make major changes in teachers’ retirement benefits, addressing a multi-million dollar unfunded liability facing the school corporation.
Rejection, Ferguson said, doesn’t mean teachers don’t like the plan. “They realize we have to do something,” he said. “But they are nervous, and they are scared. They’re giving up their security. ... They aren’t mad. They’re very nervous.”
He indicated contract language involving use of a sick leave bank in the event of a catastrophic illness was a primary focus of teachers’ concerns.
As approved by the board Monday, the contract would provide for a buyout of a portion of teachers’ accumulated unused sick days and a lump sum payment to replace retiree health insurance coverage.
Under the old contract, retiring teachers receive — in addition to their state teachers’ pension — lump sum payments for up to $42,000 worth of accrued, unused sick days. If they meet retirement criteria, they also receive single health insurance coverage from their retirement date to their eligibility for Medicare.
An actuarial study has projected that the payout for certified employees and retirees would total nearly $30 million over time.
Under the new contract proposal, both the sick day payments and retiree health insurance benefits would be bought out at a cost of $7.9 to $8 million.
Funds for the buyout would come from a pension bond issue, a vehicle created by the Indiana General Assembly for just such a purpose. Authority to issue pension bonds expires at the end of 2004.
Jay Schools superintendent Barbara Downing said Monday the pension bond system was designed by the legislature to be “revenue neutral.” The bonds would be paid off using money from the capital projects fund.[[In-content Ad]]
“It was defeated,” JCTA president John Ferguson said Tuesday afternoon. “We’re going to meet as a group Wednesday and try to refine the language. ... The teachers want it as bad as (school board members) do. We’ll get it.”
The tentative accord, which won 6-0 approval Monday night from the Jay School Board, would make major changes in teachers’ retirement benefits, addressing a multi-million dollar unfunded liability facing the school corporation.
Rejection, Ferguson said, doesn’t mean teachers don’t like the plan. “They realize we have to do something,” he said. “But they are nervous, and they are scared. They’re giving up their security. ... They aren’t mad. They’re very nervous.”
He indicated contract language involving use of a sick leave bank in the event of a catastrophic illness was a primary focus of teachers’ concerns.
As approved by the board Monday, the contract would provide for a buyout of a portion of teachers’ accumulated unused sick days and a lump sum payment to replace retiree health insurance coverage.
Under the old contract, retiring teachers receive — in addition to their state teachers’ pension — lump sum payments for up to $42,000 worth of accrued, unused sick days. If they meet retirement criteria, they also receive single health insurance coverage from their retirement date to their eligibility for Medicare.
An actuarial study has projected that the payout for certified employees and retirees would total nearly $30 million over time.
Under the new contract proposal, both the sick day payments and retiree health insurance benefits would be bought out at a cost of $7.9 to $8 million.
Funds for the buyout would come from a pension bond issue, a vehicle created by the Indiana General Assembly for just such a purpose. Authority to issue pension bonds expires at the end of 2004.
Jay Schools superintendent Barbara Downing said Monday the pension bond system was designed by the legislature to be “revenue neutral.” The bonds would be paid off using money from the capital projects fund.[[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