Prairie Grove Grade s School District 46 recently came to a new agreement with its teacher’s union on a new two-year contract through August 2020.
The new agreement is posted on its web site.
The old agreement has been removed from their site preventing one from making any comparisons.
Some of the highlights are as follows:
- Raises for the next two years are a blend of CPI with a floor of 2.5% and a ceiling of 3.5%.
- It does not appear to make any effort to mitigate the district’s exposure to Teachers Retirement System retirement penalties for those employees that may receive an increase of greater than the new 3.0% cap.
- The district pays 100% of the employee’s retirement contribution of 9% to TRS.
- Every teacher will receive a onetime stipend payment of $800 at the end of the 19/20 school years.
- The stipend payment will be considered creditable earnings subject to the TRS contribution rate of 9% and will result in piercing the 3% cap for retirement-eligible employees and triggering exposure to significant employer TRS penalties.
- The district will pay 100% of the Employee Only premium rate for health insurance, plus a portion of any spousal and/or dependent health insurance.
- The district will pay a Retirement Bonus up to a maximum of $17,500 based on years of service on a post-employment basis (therefore, it will not increase their pensions).