Longevity PLUS
In addition to the 1, 2, 3, and 4 percent increase the teachers are getting, they are getting an increase in longevity pay of $150 for 20 years, $375 for 25 years and $500 for 30 years of service. The contract calls for an extra personal day off with NO reason being given for this additional day off. They are also going into the ''Lexington Plan'' whereby a teacher giving three years notice of retirement can add $2000 per year to their base salary each year. This amount of money counts as pensionable dollars and will increase a teacher's retirement income by $1600 annually if they retire with maximum benefits. Under which budget is this increased cost being carried? There were also other minor cost items included in this contract.
In my opinion, the School Committee went way too far in accommodating the teacher's demands in these financially trying times. The SC obviously cares little about the taxpayer that has to pay these costs.
By Concerned finance guy
In addition to the 1, 2, 3, and 4 percent increase the teachers are getting, they are getting an increase in longevity pay of $150 for 20 years, $375 for 25 years and $500 for 30 years of service. The contract calls for an extra personal day off with NO reason being given for this additional day off. They are also going into the ''Lexington Plan'' whereby a teacher giving three years notice of retirement can add $2000 per year to their base salary each year. This amount of money counts as pensionable dollars and will increase a teacher's retirement income by $1600 annually if they retire with maximum benefits. Under which budget is this increased cost being carried? There were also other minor cost items included in this contract.
In my opinion, the School Committee went way too far in accommodating the teacher's demands in these financially trying times. The SC obviously cares little about the taxpayer that has to pay these costs.
By Concerned finance guy
