Some of you may have questions concerning the TENTATIVE SETTLEMENT that we
have arrived at with the Winona Education Association. This is a short
summary of the settlement:
The total package cost, including salary, benefits and payroll taxes was a
3.42 % increase for the first year and an anticipated increase of 2.81% for
the second year. (We do not have our actual insurance cost for the second
year so this is based on an estimate increase in the premium of 15%.)
The district offers two different health plans for employees, and one of the
plans offers three different levels of deductible, so the premiums vary. The
district pays 100% of the cost of single insurance for full time employees.
The premium ranges from $3937 to $4,463 annually. For family insurance, the
district will contribute $7,200 annually for a full time employee. The
premium ranges from $10,276 to $12,691 annually.
In addition to the monetary settlement the district also reduced the number
of days in the teacher's contract by two days. This represents a cash value
of approximately 1.11%. This is not an increase in salary.
The total two year contract is approximately 6.23% which includes salary
schedule improvement, step and lane advancement, all benefits, and payroll
taxes.
Time to play what if:
If inflation were projected at fifteen percent and it really was twelve percent what would be saved, and where; likewise, if the inflation really were eighteen percent what would that cost, and where?
I made some numbers based on a four hundred thousand dollar premium and noted a range of about two hundred and fifty dollars from a twelve percent inflation to an eighteen percent inflation. The low end was approximately forty-five hundred whereas the high end was around forty-seven hundred
I see the fifteen percent number as an estimate for the second-year insurance costs of the contract. What is the purpose of this number?
********************************************
David Dittmann
Did anyone at the crooked 'E' ever ask, " 'Why' is the 'E' in 'Enron' crooked?"
[snips]
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