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Saturday, November 23, 2024

Records show how much Greater C-U school districts have paid for spiking teacher pensions ahead of retirement

Test 12

Out of school districts in Greater C-U, Champaign Community Unit School District 4 paid the most in penalties since 2005 for spiking employee salaries to boost outgoing teachers' retirement benefits, according to data obtained from the Teachers Retirement System of Illinois.

A 2005 law put the penalties in place to discourage districts from giving costly raises - any above 6 percent - that result in costlier pensions. While salaries are paid by districts, the state foots the bill for educators' retirement benefits.

Illinois penalizes districts for "pension spiking" by passing on the extra pension costs associated with hiking salaries in the years leading up to retirement.

Since 2005, the state has assessed more than $161 million in penalties, according to TRS data.

Greater C-U pensions spiking penalties, 2005-present

Rank
District
City
Members
Amount Assessed
Payments Made
Waivers Granted
Written-off
Current Balance
1
Champaign Community Unit School District 4
Champaign
183
$895,076.01
$331,513.27
$563,540.89
$21.85
2
Urbana School District 116
Urbana
67
$267,686.19
$144,481.60
$123,156.64
$47.95
3
Mahomet Seymour CUSD 3
Mahomet
51
$621,356.82
$67,263.14
$554,090.73
$2.95
4
Monticello Community Unit School District 25
Monticello
32
$143,455.30
$31,768.68
$111,668.87
$17.75
5
Paxton-Buckley-Loda 10
Paxton
31
$30,735.16
$30,702.70
$32.46
6
Rantoul City School District 137
Rantoul
25
$104,231.76
$28,704.68
$75,521.62
$5.46
7
Tolono Community Unit School District 7
Tolono
13
$23,858.92
$21,903.26
$1,955.66
8
Cerro Gordo Community Unit School District 100
Cerro Gordo
6
$38,688.73
$21,312.58
$17,373.81
$2.34
9
Oakwood Community Unit School District 76
Oakwood
14
$21,196.56
$21,196.14
$0.42
10
Georgetown Ridge Farm Community Unit School District 4
Georgetown
5
$51,783.95
$18,831.93
$32,952.02
11
Armstrong THSD 225
Armstrong
6
$13,699.54
$13,691.29
$8.25
12
Salt Fork Community Unit School District #512
Catlin
13
$76,470.58
$10,774.84
$65,688.21
$7.53
13
Potomac Community Unit School District 10
Potomac
3
$9,373.31
$9,373.31
14
Rossville Alvin Community Unit School District 7
Rossville
2
$8,521.89
$8,521.64
$0.25
15
Bismarck CUSD 1
Bismarck
8
$8,170.72
$8,168.62
$2.10
16
Armstrong-Ellis CSD 61
Armstrong
2
$7,497.15
$7,496.29
$0.86
17
Fisher Community Unit School District 1
Fisher
6
$5,541.81
$5,541.81
18
Tri Point CUSD 6J
Kempton
1
$5,235.62
$5,235.62
19
Champaign-Ford Cntys ROE
Champaign
4
$4,693.35
$4,693.35
20
St. Joseph Community Consolidated School District 169
St Joseph
12
$65,303.58
$3,076.93
$62,223.63
$3.02
21
Westville Community Unit School District 2
Westville
2
$2,421.11
$2,420.97
$0.14
22
Bement Community Unit School District 5
Bement
6
$4,622.31
$2,136.13
$2,485.87
$0.31
23
Ludlow Community Consolidated School District 142
Ludlow
1
$2,013.05
$2,013.05
24
Hoopeston Area Community Unit School District 11
Hoopeston
10
$8,812.90
$1,953.02
$0.65
$6,859.23
25
Deland-Weldon Community Unit School District 57
DeLand
5
$1,072.25
$1,072.25
26
Vermilion Assoc Spec Educ
Danville
1
$18.62
$18.62
27
St Joseph Ogden CHS 305
St Joseph
2
$11,290.65
$15.51
$11,275.14

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