It looks like Mr. Thurmond is recommending spending $10 million on
a campaign contribution retirement “option” [tax-sheltered annuity?] contributions for teachers!
JUST RELEASED by Thurmond’s campaign manager turned communications officer for DeKalb County Schools >>
SUPERINTENDENT MICHAEL THURMOND RECOMMENDS $10 MILLION TO RESTORE EMPLOYEE RETIREMENT PLAN
DeKalb County School District Considers Restoring Retirement Options for All Employees
Superintendent Michael Thurmond recommends “assignment” of $10 million in the proposed budget for Fiscal Year 2015 – 2016 to reestablish a DeKalb County School District supported retirement option for all employees. The funds have been identified in the District’s fund balance, which is expected to exceed $80 million at the beginning of the new fiscal year, which begins on July 1, 2015.
The DeKalb Board of Education will consider this recommendation on Wednesday, June 17, when the final budget for FY2016 is adopted.
“We have been working diligently for the past two years to find ways to help our loyal employees, who have been the victims of a bad economy and poor management decisions in years past,” said Superintendent Thurmond. “With the new budget, the District will have the ability to assist employees with their pre-tax retirement savings in addition to allocating $20 million for significant salary increases for qualified, veteran teachers as well as improved salaries for all other employees. I am particularly proud of the much needed and deserved proposed salary increases for our lowest paid employees.”
In March, Superintendent Thurmond recommended a three-tier salary increase that emphasizes improved salaries for veteran teachers for FY2015-2016. The proposed increases include:
• 4 percent cost-of-living-adjustment (COLA) for all veteran teachers with 6 or more years of experience
• 3 percent COLA increase to teachers with 0-5 years of experience; and,
• 2 percent COLA increase for all other employees.
The District has 14,000 total employees including 6,000 teachers.
Kidding aside: If he is able to restore these contributions, regardless of his motivation – we will be thrilled! This 11th hour action by Michael Thurmond before he leaves his post as superintendent would be a much needed very big first step towards restoring trust and integrity with our teachers. Here’s hoping!