Shifting much of the state’s pension burden to local schools is something that worries Sherrard superintendent Alan Boucher. Governor Bruce Rauner made that call yesterday in his budget address. Boucher says yes, schools are receiving new education funding dollars, but not enough to pay for the added cost of picking up the pension shift.
Under the governor’s plan, school districts would begin to pay their own pension costs, resulting in savings of $591 million for the state in Fiscal Year 19. The pension cost realignment would be phased in over the next four years in 25 percent per year increments. The phase-in is designed to help local governments adjust to the new payment plans.