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“this simple change”

From Roger Kempa’s letter on March 3, 2014, suggesting the District invest with IMET: That will leave an estimated $25,800,000 earning 0.3709%,or $95,692 versus $13,980 without the planned change. As comparative example on an annual basis, this simple change...

S & P Counters Corcoran’s Claims – Pension Obligations “low”

Despite all of the bluster and political posturing from Mr. Corcoran and his allies during recent negotiations, a new report from S & P, a respected, international ratings agency, shows that the District is in excellent financial shape, that the system works as it currently exists, and that no dramatic changes need to be made for the tradition of excellence to continue in the District.

Even though Mr. Corcoran and his allies claimed that the teachers’ contract would create deficits, the report clarifies that District 86 had a surplus of 1.6 million dollars in 2014.

Mr. Corcoran also led many to believe that pension obligations would sink the district’s finances.  The report counters that claim as well, citing pension obligations’ “minimal impact” on District finances.

Continue reading S & P Counters Corcoran’s Claims – Pension Obligations “low”