The plan produces a higher monthly income for retirees and reduces restrictions for those who are eligible. It also gives a raise to retirees. Nearly half of the increased costs, which are possible due to the extremely healthy reserves in the retirement fund, will go to existing retirees.
Teachers are critical.
Board member Sharon Macdonald said the district was compelled to keep up with benefits offered by other plans, particularly the Public Employees Retirement Association of Colorado. Boosting enhancements for deferred retirement benefits. Compounding the Annual Retirement Allowance for retired members at the rate of 3.25 percent per year. All changes will become effective on January 1, 2001.