End pension sweeteners; help save pension system
The pension-sweetening, end-of-career pay increases, received by school administrators and teachers across Illinois, put further stress on a weakened state pension system. We propose that Dixon School District administrators and teachers renounce them.
Contract negotiations between the Dixon Education Association and the Dixon School Board have taken place amid a worsening public pension crisis. The state of Illinois owes its five public pension systems about $200 billion – a staggering amount.
Illinois politicians, past and present, must shoulder much of the blame. For years, state contributions to the pension system were delayed or underpaid, at politicians’ behest, while teachers and other public employees continued to make contributions.
Another culprit, however, is a law that allowed school districts to grant end-of-career, pension-sweetening salary increases. The 6 percent salary hikes, granted for up to 4 years at the end of a certified employee’s career, provide an incentive for the employee to retire early because pension amounts are based on a person’s pay.
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