New Accounting Rule Shifts Retirement Costs

Avrum Lank:

For unions representing teachers and other government employees, the fine print is making it harder to negotiate improvements in benefits such as retiree health insurance.

"It certainly made my life more complex," said Michael McNett, director of collective bargaining for the Wisconsin Education Association Council, the state's largest teachers union.

For the Port Edwards School District, which has an annual budget of $6.1 million and 90 employees, the rule will mean an additional expense of about $120,000 a year - about the cost of employing two teachers , said Superintendent Michael W. Alexander.

Posted by Jim Zellmer at January 30, 2006 6:18 AM
Subscribe to this site via RSS/Atom: Newsletter signup | Send us your ideas