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Monday, December 23, 2024

Records show how much Metro Rockford school districts have paid for spiking teacher pensions ahead of retirement

Test 12

Out of school districts in Metro Rockford, Harlem USD 122 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.

Metro Rockford pensions spiking penalties, 2005-present

Rank
District
City
Members
Amount Assessed
Payments Made
Waivers Granted
Written-off
Current Balance
1
Harlem USD 122
Machesney Park
126
$756,967.31
$466,493.41
$290,467.71
$6.19
2
Belvidere Community Unit School District 100
Belvidere
142
$536,133.41
$218,512.80
$317,523.05
$97.56
3
North Boone Community Unit School District 200
Poplar Grove
20
$92,858.93
$74,524.11
$18,334.41
$0.41
4
Boone-Winnebago Cntys ROE
Loves Park
10
$49,720.26
$37,261.59
$12,458.60
$0.07
5
Winnebago Community Unit School District 323
Winnebago
27
$76,438.77
$36,357.73
$40,079.66
$1.38
6
Pecatonica Community Unit School District 321
Pecatonica
15
$51,887.72
$18,977.17
$32,910.29
$0.26
7
Kinnikinnick Community Consolidated School District 131
Roscoe
8
$13,522.02
$13,522.02
8
South Beloit CUSD 320
South Beloit
4
$50,715.14
$9,942.68
$40,772.46
9
Shirland Community Consolidated School District 134
Shirland
2
$9,374.08
$9,374.08
10
Hononegah CHSD 207
Rockton
19
$83,672.91
$6,097.68
$77,570.11
$5.12
11
Prairie Hill Community Consolidated School District 133
South Beloit
9
$5,996.60
$5,992.04
$4.56
12
Rockton School District 140
Rockton
11
$17,267.43
$2,962.73
$14,304.42
$0.28
13
Winnebago Cnty Spec Education
Rockton
4
$2,939.67
$2,939.67
14
Durand Community Unit School District 322
Durand
2
$7,483.14
$1,153.01
$6,330.13

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