Posted April 12, 2017 2:54 pm by Comments (2)

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The retirement incentive program was one way the district tried to sell its teachers’ contract as a good deal for taxpayers. Initially, it would have cost the district as it paid out bonuses to retirees, but getting veteran, higher-paid teachers and aides off the district’s payroll could have produced up to $90 million.

Comment: Maybe it would be better to report as “news” anything truthful promised in Chicago about its finances.

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2 Comments on "Chicago Schools Miss Out On Retirement Incentive Savings – WBEZ"

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Bross

I don’t understand these benefits, incent a high paid teacher to retire. New teacher paid less. High paid teacher draws pension. Pension + benefit to retire early+ new teacher > just paying teacher. Plus, why push teachers out? Why not let them teach till they’re 70-75? Recent articles suggest people may want to continue working…pay less in pensions over the long haul. .??

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