The Chicago teachers will average a 3.2% raise for five years with the first three years getting a 3% raise and the last two year gettingg a 3.5% raise. Moreover, for teachers who have 14 or more years in service, they will be getting a bump in their pay s cale which can average another 3% raise.
There will be hard class size caps and all schools will have a school nurse and social worker.
There are more improvements, like more sick days that can be banked and frozen health insurance premiums. The contract summary can be found in the article Here
ReplyDeleteAnonymous11:51 AM
I would like chaz to do a post on Retirement updates.
I have 140 days In my car.Which is best to do it when I
retire.
1) cash 140 x $300 equals $42,000 (1/200 x120000 x 1/2)
2) Get two for one for retirement
3) Use the 140 days in sick days if you can?
Thank you
I had 140 days in my CAR and took the money which was paid in two or three installments -- it came to around 25k and after taxes didn't seem great considering 35 years. Now it comes to 42K which shows at least some income growth over 18 years.
ReplyDeleteRather than use the 140 days piecemeal which can be distruptive in terms of your job look into terminal leave where you get paid for 70 days I think and also get some bit of pension added. But if you do this in a time frame that covers part of a summer consider summer pay and also pension issues. IE, if you retire July 1 you collect full summer pay plus full summer pension - double dipping and a nice amount of money. If you do it that way just take toe 2 for one - I think that is the max money you get out of the system.
Thank you and Ed notes
ReplyDeleteQUESTIONS: is that 140 days equal to $42,000 or is it 70 days that equals the $42,000? (In other words If I have 140 days in my CAR and I want to cash them out I would get $42,000 before taxes?) Also, it seems that taking terminal leave is "worth" more because it is based on your actual salary and not the arbitrary $300.00 per day rate. Is that true? What percentage of teachers take terminal leave vs cashing out CAR days? ANY INFO IS APPRECIATED!!!
ReplyDelete40,000 is before taxes
ReplyDelete