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McLean County Times

Saturday, November 23, 2024

Records show how much McLean County school districts have paid for spiking teacher pensions ahead of retirement

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Out of school districts in McLean County, McLean County Unit School District 5 paid the most in penalties since 2005 for spiking employee salaries to boost outgoing teachers' retirement benefits, according to data obtained from the Teachers Retirement System of Illinois.

A 2005 law put the penalties in place to discourage districts from giving costly raises - any above 6 percent - that result in costlier pensions. While salaries are paid by districts, the state foots the bill for educators' retirement benefits.

Illinois penalizes districts for "pension spiking" by passing on the extra pension costs associated with hiking salaries in the years leading up to retirement.

Since 2005, the state has assessed more than $161 million in penalties, according to TRS data.

McLean County pensions spiking penalties, 2005-present

Rank
District
City
Members
Amount Assessed
Payments Made
Waivers Granted
Written-off
Current Balance
1
McLean County Unit School District 5
Normal
78
$867,356.97
$264,325.23
$603,027.97
$3.77
2
Bloomington School District 87
Bloomington
40
$216,330.23
$100,305.02
$116,016.42
$8.79
3
Prairie Central Community Unit School District 8
Fairbury
62
$118,399.53
$93,448.72
$24,888.88
$61.93
4
Tri-Valley CUSD 3
Downs
23
$54,625.16
$54,554.79
$65.19
$5.18
5
Cornell Community Consolidated School District 426
Cornell
6
$47,519.06
$47,517.25
$1.81
6
Pontiac Community Consolidated School District 429
Pontiac
16
$152,454.93
$41,900.63
$110,552.71
$1.59
7
Heyworth Community Unit School District 4
Heyworth
14
$166,873.50
$23,190.76
$143,678.30
$4.44
8
Ridgeview Community Unit School District 19
Colfax
13
$214,190.05
$22,487.60
$191,702.45
9
Flanagan-Cornell UD 74
Flanagan
8
$19,716.54
$19,709.81
$6.73
10
Fox Developmental Center
Dwight
1
$13,277.78
$13,277.78
11
Olympia Community Unit School District 16
Stanford
44
$421,541.67
$8,878.75
$412,654.96
$7.96
12
Dwight Common School District 232
Dwight
8
$42,751.42
$4,174.65
$38,576.77
13
Le Roy CUSD 2
Le Roy
5
$35,915.93
$2,937.80
$32,978.13
14
Dwight Township HSD 230
Dwight
11
$97,969.46
$2,936.11
$95,033.35
15
Streator Woodland CUSD 5
Streator
6
$48,698.64
$2,690.20
$46,006.61
$1.83
16
Lexington Community Unit School District 7
Lexington
10
$164,294.29
$2,131.08
$162,161.30
$1.91
17
Regional Office of Educ 17
Bloomington
2
$1,734.71
$1,734.31
$0.40
18
Pontiac Township HSD 90
Pontiac
6
$29,867.35
$1,144.21
$28,031.98
$0.28
$690.88
19
Odell Community Consolidated School District 435
Odell
3
$6,983.95
$631.73
$6,351.93
$0.29
20
Saunemin Community Consolidated School District 438
Saunemin
1
$308.93
$308.93

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