School board member Greg Ardrey referred to Tuesday’s discussion on the value of accumulated sick leave for employees as a “first unveil” of a topic that might come up to the board again.
Members of the Janesville School District’s human resources staff reviewed how employees currently exchange sick days for post-retirement benefits. In particular, they focused on how accumulated sick leave can be exchanged for money to go toward health care coverage or retirement savings.
Current teachers who are eligible to retire can convert their accumulated sick days into $147 per sick day to use for health insurance or to put into a tax-sheltered account.
Earlier this year, board member Steve Huth asked the district to determine how much it would cost to raise the conversion amount to $180 a day.
The district’s Chief Financial Officer Keith Pennington said it would cost an estimated total of $2.91 million from the 2019-20 school year to the 2045-46 school year.
Huth said Tuesday the change wasn’t being officially considered by either the board or committees, but he wanted to get the numbers out there.
The $147 amount was determined by taking the per-day pay of a substitute teacher and adding 50 percent to it. But the sub pay has increased since that time. Using the same calculation now—sub pay plus 50 percent—would equal $180.
Ardrey, in referring to the increase in benefits as a “first unveil,” said he wanted to give the board and the community an idea of what it would cost to increase the benefit amount.