Next year we can expect our PSERS contribution to increase by over 70%. However, that is not even the bad news. Please see the excerpt from this article below:
State and local education officials said the worst part is that next year's increase is just a fraction of an anticipated leap to record public contributions by 2012, when the state and local tab is projected to exceed $4 billion.
Tomorrow we are set to hear updated cost figures from our architects for the high school project. When deciding how much we have to spend on this project we must consider what the rate increases in PSERS will do to our overall budget.
I have said a number of times on this blog that we have not yet had to make tough decisions. I believe the tough decisions start now.
Thanks for reading.
James
