Potential pension cost shifts for educators could go into effect as early as the next fiscal year.
If the Illinois Supreme Court votes the pension reform into action, District 204 would have to absorb more than $3 million of the cost in 2016, more than $7 million in 2017, and more than $15 million in 2019.
And more bad news could come if Senate Bill 1 were to be passed into law. The education funding legislation could cause District 204 to have $5.8 million cut from their budget.
“Bottom line is they can’t keep taking from public education because what you’re going to have no matter how you slice the pie, public education will fail and that’s the bottom line,” said Board Member Mark Rising.
District 204 has already been making cuts to make the potential impact of Senate Bill 1 less intense.
The board plans to continue keeping an eye on Springfield and the school funding legislation.
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