By Bill Zettler
The District 300 Teachers Contract contains the following paragraph on page 44:
B. REGULAR RETIREMENT.
1. Members of the bargaining unit who have served a minimum of 12 years in the District and are eligible for regular retirement, who present the District with a letter of retirement three years prior to the first day of March of their final year of active service, shall be paid a retirement bonus. THE BONUS SHALL CONSIST OF AN INCREASE OF TWENTY (20) PERCENT OF THE SALARY STEP THE RETIREE WILL OCCUPY IN EACH OF THE YEARS FOLLOWING THE YEAR THE LETTER OF RETIREMENT IS SUBMITTED.
So three years at 20% increase per year. Not bad if you can get it.
Perhaps the supporters of the D300 referendum could explain to the taxpayers what benefit accrues to them by increasing the salaries of D300 employees by 60% over 3 years.
If this referendum is really about “the kids,” shouldn’t they be cutting 60% salary increases and saving programs rather then vice versa?
Please note that these 60% raises also increase the total pension payout by over $500,000 and pensions are paid by all of the taxpayers in Illinois not just those in District 300.