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Post by Arch on May 3, 2011 8:56:51 GMT -6
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Post by doctorwho on May 3, 2011 8:57:25 GMT -6
yep- let's ask these people for more money because $231K was an insulting amount-- these idiots just don't get it and please let me correct a statment I made earlier -- KB's current pension is worth $7M -- her new contract bumps that up another $1,3M -- to $8.3M just so we can all sleep at night knowing our super will be able to afford electric and gas etc... with the extra $1.3M ( and this is above the benefits we agreed to pay - which is not a given) - |
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Post by Arch on May 3, 2011 9:03:23 GMT -6
That 8.3 million divided by the 29 year life expectancy they use to calculate retirement means she's pulling on average, $286K per year IN RETIREMENT, via TAX PAYER MONEY.
Any they did this 1 year before the current contract was over. Way to go Curt, Cathy, Sue, Mark and Alka... way to look out for the public and do this 'for the children'. You people are sick.
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Post by macrockett on May 3, 2011 9:18:10 GMT -6
Big Mac, Thanks for stepping up to the plate last evening. Even with MM focus on the "Deep Left Pocket", even that pocket is showing the strain of recent economic events. How long will residents watch as the actual residential tax rate climbs (at triple the rate of inflation) especially in light of falling residential / commercial values. Of course with 10% of the electorate showing up to vote and answers like the one I received from my neighbor (well at least my taxes went down a couple a hundred dollars), maybe the tax rate increases can go on indefinitely. YW SSSM. To say the least I have a self interest in this...at least until I sell my house. There is a rude awakening coming. When the State isn't paying its bills even after a two percent raise, is stalling tax refund payments, and is shaking down municipalities to facilitate it borrowing more money you can see the desperation. Next stop, property tax cap removal. If you don't get active and push back, "they" will take everything they can get. |
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Post by southsidesignmaker on May 3, 2011 9:29:58 GMT -6
Big Mac
Has the meeting regarding the 91st will county issue been scheduled yet. I would love to pay a visit to a couple folks there and ask "do you believe me know".
I pleaded 2 years ago to drop assessed values gradually, of course these folks noted that the market did not dictate the drop I was asking for. 2 years later the area drops by almost 10% with more drastic declines right around the corner.
When I brought up the notion that there are not a lot of buyers when the market is in "dagger dropping mode" the tax folks just gave me a puzzled look. Too bad 10% drop this year and a couple more 7-8% declines on the horizon will keep conservative buyers at bay. This could very well be a self fulling prophesy as tax rates increase to make up for the falling valuations.
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Post by macrockett on May 3, 2011 11:58:10 GMT -6
Big Mac Has the meeting regarding the 91st will county issue been scheduled yet. I would love to pay a visit to a couple folks there and ask "do you believe me know". I pleaded 2 years ago to drop assessed values gradually, of course these folks noted that the market did not dictate the drop I was asking for. 2 years later the area drops by almost 10% with more drastic declines right around the corner. When I brought up the notion that there are not a lot of buyers when the market is in "dagger dropping mode" the tax folks just gave me a puzzled look. Too bad 10% drop this year and a couple more 7-8% declines on the horizon will keep conservative buyers at bay. This could very well be a self fulling prophesy as tax rates increase to make up for the falling valuations. Yes SSSM. The meeting is set for May 23. 7PM. We are hoping to get a standing room only crowd. Bigger than the the Annual Meeting where 125 registered voters showed up and said stop the madness by a 2:1 vote. However, that vote was considered non binding. If you get a chance, please come. |
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Post by Arch on May 3, 2011 15:24:12 GMT -6
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Post by macrockett on May 3, 2011 21:56:49 GMT -6
Birkett currently makes $210k ipsdweb.ipsd.org/Subpage.aspx/CompensationReport In additions, there are 87 other administrators on that report that make from $85k - $159K. Lets just say average of $100k per (conservative if you look at the report). That makes an annual salary for the 87 about $8.7 million. Now, looking at the TRS site, under "early retirement option" (ERO) trs.illinois.gov/subsections/members/pubs/brochures/bro09.htm you find that if we give Ms. Birkett a coffee mug and a hand bag instead of a raise, assuming that she is insulted and retires, the District would be liable for $210k x .235 x age less than 60 (5.14 as she is currently 54, with a birth date of 9/20/56). So that means we would have to shell out to the TRS $259, 087.50! A far cry above that $26,200 salary increase over the three year contract. If you stop there, we would have to agree with Metzger. But, like most things that Metzger does, from my vantage point anyway, he fails to take everything into consideration, He doesn't look at the big picture, he operates in a vacuum. That increase that Ms. Birkett is making, is 12.4% compounded over that three year term. Do you think those other 87 administrators aren't looking at than and saying hmmmmmmmmmmmmmmmm, I like that! What kind of increase will those 87 be given over that same three years? If you give them the same amount, that $8.7 million grows to $8,961,000 in FY12, $9,319,440 in FY13 and finally, $9,785,412 in FY 14. That's $1,965,852 additional to those 87 over that 3 year period! So compare that $1.96 million to that $259k above and, I don't know about you, but early retirement for Ms. Birkett isn't lookin so bad! But that probably isn't a fair comparison, is it? Actually it isn't. That is just the start. When you factor in future raises for the balance of the 87 admin careers, well you get the picture. Then don't forget the bump that gives to the the base pension amount. According to TRS, if Birkett retired at the end of her contract, at the age of 54 she might have a severe cut in pension unless she made a lump sum contribution to TRS or had more than 35 years in. See the above TRS site and the TRS benefits pfd for tier one employees at trs.illinois.gov/subsections/members/pubs/pubs.htmThis analysis also does not include the rank and file teacher analysis (2000+). How do you think they will react to 3-4-5% to Ms. Birkett? What about the increases that Ms Birkett's contract has put in motion for virtually all of the D204 employees? And then consider the impact on pensions? Present Future value of all the increases triggered by Ms. Birkett's 3yr contract increase probably amounts to somewhere in the $100 million dollar range. Bottom line, it isn't about Ms. Birkett, like Chris Vickers said. It is about a broken system. A system that is unsustainable and on the verge of creating a vast tsunami of debt that our children will be left with. Yet again Chris Vickers has done her homework and gets a gold star. Curt? Right out of the Metzger mold, short sighted and a control freak at that. Amended the above to change Present to Future |
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Post by Arch on May 4, 2011 8:43:17 GMT -6
Maybe she and those on the Board of Education who voted to approve the new contract can give a presentation at the Special Needs PTA meeting on May 17th at 7PM at the CEC that shows the parents what kinds of services or provisions their kids could have had if the district would not have signed that contract and committed to that much more money being spent on something other than the education of the children.
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Post by southsidesignmaker on May 4, 2011 11:00:33 GMT -6
Thank you Big MAC,
I was wondering when anyone was going to get around to the 1,000,000 pound gorilla in the room. When the board continues to operate in the "old Economy" these type of deals snowball right quick!
Labor is the only place left to cut.... I suspect that our supt. has done her homework and would not have left even with little or no raise going forward. Now we have the other adm., then the teachers. Taxpayers are starting to come out their self imposed coma of ignorance, just in time to hear rumors of an ever needed operations ref.
When will it become apparent that there is only one way to lead.... BY EXAMPLE!!!!
The example set forward in the last evening's board meeting is not exactly the example I was looking forward to seeing. Especially in light of the substantial tax rate increase noticed as I open my tax bill this weekend. I only wish the whole district opted to cut the (2) checks per year necessary to the tax man, maybe more would take the time to recognize the situation we are quickly finding ourselves in.
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Post by Arch on May 4, 2011 11:09:02 GMT -6
I echo what you say, SSM, but I'll say this situation may seem 'quick' to many but it's been warned about for years...just ignored.
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Post by doctorwho on May 4, 2011 11:13:04 GMT -6
Thank you Big MAC, I was wondering when anyone was going to get around to the 1,000,000 pound gorilla in the room. When the board continues to operate in the "old Economy" these type of deals snowball right quick! Labor is the only place left to cut.... I suspect that our supt. has done her homework and would not have left even with little or no raise going forward. Now we have the other adm., then the teachers. Taxpayers are starting to come out their self imposed coma of ignorance, just in time to hear rumors of an ever needed operations ref. When will it become apparent that there is only one way to lead.... BY EXAMPLE!!!! The example set forward in the last evening's board meeting is not exactly the example I was looking forward to seeing. Especially in light of the substantial tax rate increase noticed as I open my tax bill this weekend. I only wish the whole district opted to cut the (2) checks per year necessary to the tax man, maybe more would take the time to recognize the situation we are quickly finding ourselves in. yep - the 'leaders' who negotiated this increase before the board meeting have their heads - I'll say stuck in the sand- although I believe they truly as up something.. they don't give a rat's behind what they cost us-- and trust me that referendum will come with the same fear tactics- as all previous requests. I say- screw em and vote no-- I don't care what they threaten. As for KB- oh yeah she was really going to leave this gig - nonsense. This was one hand washing the other- period. If someone today wants to walk from a quarter mill a year position, let them go --adios ! I agree having mortgage companies pay the tax bill lessens peoples insights to it's makeup- of course if you had some honest reporting around here ( let's say as opposed to the Sun pritning the press release almost word for word)- maybe the increases and debt would get some coverage. |
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Post by Arch on May 4, 2011 12:40:35 GMT -6
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