School employees could see a higher cost to retire
Governor’s goal is to stabilize system, stop unfunded liability, provide relief to school districts MICHIGAN — School districts crushed by surging retirement costs could save as much as $250 million this school year under a contentious bill that would make retirement benefits more expensive for public school employees but give districts millions they could use [...]
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The label on the graphic is completely confused: “Meanwhile, for several reasons, retirement costs assessed against school district payrolls have risen dramatically, eroding the amount of the grant available for use in the classroom”.
Retirement costs are a part of the ‘classroom’ – without a retirement package you don’t get a qualified teacher to head that classroom. Let’s not pretend that personnel costs are any less part of the ‘classroom’ than textbooks, computers, or whiteboards.