Schools Brace for Pension Rate Spikes
October 06, 2013
Charter schools administrators are worried about the problem, too. They get a larger reimbursement in pension costs — the controversial “double dip” that lawmakers are also trying to address — but many say they have lean budgets that will also be hit hard by the rate increases.
“Now instead of spending money on education, I have to spend it on people’s retirement,” said Diane Hedde, business manager at the Center for Student Learning. “I might have to take their job and make a part-time job out of it to cut down.”
School Lane Charter School Principal Karen Schade said it helps that her employees are on the younger side. But one of her points of pride is devoting two teachers to each classroom for at least two hours daily, and she’s not sure she can keep up that kind of ratio if the pension rates continue to rise.