CLCHS Principal Steve Olson Given Control of High School District 155

From Crystal Lake High School District 155’s Shannon Podzimek:

Steve Olson

This evening, the Board unanimously appointed Steve Olson as Interim Educational Superintendent for Community High School District 155 for the 2017-18 school year.

Mr. Olson will work closely with district and school leadership teams, teachers, support staff, students, parents, and the community to ensure continued academic success.

The Board appointed Tom Kim as Interim Acting Superintendent, and Mr. Kim will fulfill official duties of the office of superintendent as required by law.

Mr. Olson has held several positions within District 155 for the last 33 years.

He most recently has served as principal at Crystal Lake Central High School since 2001.

Mr. Olson will oversee the ongoing transition at Crystal Lake Central High School.

The Board unanimously accepted Dr. Johnnie Thomas’ resignation as superintendent of Community High School District 155


Comments

CLCHS Principal Steve Olson Given Control of High School District 155 — 3 Comments

  1. Dist 155 has plenty of fat in the admin dept.

    There seems to be no need to hire anybody, just keep the line up as is.

    If these two intellectual replacements can’t handle the job, them look for a replacement.

    It’s hard to believe that with a little cooperation from other staff the work load can’t be spread around.

  2. Open the Books Widget

    Steven E Olson

    Annual Wages (Pensionable Income)

    2016 – $190,121 – 31st year working (approximate, could FOIA the information from TRS)

    2015 – $191,121 –

    2014 – $182,541 –

    ++++++++++++++

    Mr. Olson is in the Teachers Retirement System of the State of Illinois (TRS) pension system.

    After 35 years of service, which is typically less than 35 years worked, TRS Tier 1 members (those beginning their employment on or before January 1, 2011) can retire with starting pension at 75% of the average of the last 4 years worked.

    If he does not receive pensionable income over $190,121 for the final four years worked, starting pension will be:

    $190,121 x .75 = $142,591.

    The $142,591 will increase 3% annually in retirement.

    +++++++++++

    The 3% cost of living allowance (COLA) is compounded annually.

    The COLA is more accurately called the “post-retirement annual increase for annuitants.”

    The 3% compounded has been hiked over the years.

    They are some of the many benefit hikes in TRS, even though the pension fund was underfunded at the time of the benefit hikes (TRS has always been underfunded).

    ++++++++++

    Here are the COLA hikes over the years:

    July 1, 1969 – The post-retirement annual increases became 1.5 percent.

    September 1, 1971 – The post-retirement annual increase for annuitants with no service after July 1, 1969 became 2 percent.

    January 1, 1972 – The post-retirement annual increase for annuitants with service after July 1, 1969 became 2 percent.

    January 1, 1978 – The post-retirement annual increase for annuitants with service after July 1, 1969 became 3 percent.

    September 1, 1978 – The post-retirement annual increase for annuitants with no service after July 1, 1969 became 3 percent.

    January 1, 1980 – The date annual increases were paid changed to January 1 from September 1 for annuitants with no service after July 1, 1969.

    January 1, 1990 – Post-retirement annual increases became compounded annually.

    ++++++++++++

    Benefits are contractual and cannot be diminished or impaired, per the state constitution.

    Apparently the IL Supreme Court has interpreted that to mean benefit hikes are contractual and cannot be diminished or impaired.

    But benefits can be hiked, even if pensions are already underfunded.

    And once hiked, the benefits cannot be diminished or impaired for existing workers; only for people hired after the benefit hike is scaled back.

    +++++++++

    Many of the benefit hikes are found in this document:

    Evolution of the Teachers’ Retirement System of the State of Illinois Benefit Structure.

    http://www.trsil.org/sites/default/files/documents/history.pdf

    +++++++++++

    A pension is a promise.

    A benefit hike is a promise.

    Benefits can be hiked to underfunded pensions, and once hiked, can’t be scaled back for existing workers or retirees, regardless if the taxpayers were not adequately informed of the hikes, and regardless of pension funding.

    +++++++++++

    TRS is currently less than 40% funded.

    Thus, interest is accrued annually on the 60% underfunded portion.

    That interest makes the pensions more expensive for taxpayers, because taxpayers are responsible for 100% of the interest (employees and retirees are not responsible for unfunded liability interest).

    +++++++++++

    Here is a rough overview of how the TRS financial position is calculated annualy:

    Starting balance

    + investment return (or loss)

    + employee contributions

    + employer (school district) contribution

    + state contribution (on behalf of the employer)

    – interest on unfunded liability

    = Ending balance

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