Latest News and Comment from Education

Wednesday, April 17, 2019

Shorting pension payments and teacher salary caps. – Fred Klonsky

Shorting pension payments and teacher salary caps. – Fred Klonsky

SHORTING PENSION PAYMENTS AND TEACHER SALARY CAPS

Senator Andy Manar.
Senator Andy Manar.

When the Democratic legislature and Bruce Rauner finally agreed on a full year state budget in his third year in office they included a salary cap of 3% on teachers.
The cap was hidden in the bill – not by the Republicans and Bruce Rauner – by Democratic Party legislative leaders.
The budget, including the salary cap, was passed with full support of the Democrats.
The Democrats, when pressed, explained that they needed something to get Republicans on board to pass a budget.
Naturally, what came to mind was capping teacher salaries.
The Senate has now voted to repeal the 3% teacher salary cap. It is stalled in the Democratic Party controlled House.
What are they waiting for? They have no excuses now.
Meanwhile Democratic Party governor JB Pritzker continues to support a three year pension payment holiday.
He wants to reduce the state’s pension payments by over $800,000 a year for at least the next three years and extend the pension debt payment ramp by 7 years.
He has the support of powerful Democratic Senator Andy Manar.
Manar has recently been parading around as a friend of teachers because he sponsored CONTINUE READING: Shorting pension payments and teacher salary caps. – Fred Klonsky