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Appleton school board sets new benefits
In hopes of reducing the district's future liability to retirees,
the Appleton school board is putting a new benefit policy in place for teachers and administrators.
Superintendent Lee Allinger says they put a cap on health insurance payments, and they're going to gradually raise the minimum retirement age from 55 to 58.
Allinger says after their first 10 years, teachers and administrators will now have to work five years, to earn an additional year of post-retirement health care benefits. It used to take three years to earn an extra year.
A recent report shows the district owes $120 million for post-retirement benefits, over the next 30 years.
Allinger says the changes won't impact the benefits that employees have already earned.
the Appleton school board is putting a new benefit policy in place for teachers and administrators.Superintendent Lee Allinger says they put a cap on health insurance payments, and they're going to gradually raise the minimum retirement age from 55 to 58.
Allinger says after their first 10 years, teachers and administrators will now have to work five years, to earn an additional year of post-retirement health care benefits. It used to take three years to earn an extra year.
A recent report shows the district owes $120 million for post-retirement benefits, over the next 30 years.
Allinger says the changes won't impact the benefits that employees have already earned.
