Triton Works On Retirement Plan
July 28, 2016 at 4:25 p.m.
BOURBON - The Triton School Board approved three resolutions Monday dealing with the reorganization of Triton School Corp.'s retirement and severance plan. Triton schools have been working since 2000 to meet Indiana's mandate that all school systems must be prepared to forward pay retirement/severance plans for employees by Dec. 31. The schools must begin to forward pay Dec. 31, 2004.
The resolutions passed Monday were a bond resolution, authorization of a hearing on additional appropriations and a tax neutrality resolution. According to schools superintendent Ted Chittum, the resolutions put the school corporation in a position to sell bonds in February or March, which will allow them to comply with the new state mandates.
Chittum said with the new system of forward paying retirement/severance benefits, the school corporation will know exactly what their costs in that area will be each year and employees will have more control over their benefits.
"It will be very similar to the way it is in the private sector," he said.
The reorganization has been in the works for more than three years. Chittum said completion is in sight.
"It's something that the teachers' union and a board representative and myself have worked on and we're finally getting it resolved," he said.
In other news, Triton Elementary principal Tom Bowers reported to the board that his school was joined by many community organizations and private donors in assisting the families of 90 students in Triton schools with gifts and warm clothing for the holidays.
Bower said, "We're not a social service agency and we're amazed at the response we received. But that's just what the season is about - giving."
Triton Junior/Senior High School principal Mike Chobanov reported that Triton eighth- and 10th-graders improved last year's ISTEP scores. Chobanov said he is happy with the progress and intends to work with his staff to ensure continued performance.
"There's always room for improvement, but the staff's done a very good job," said Chobanov.
Chobanov also said he thinks the first few weeks of his job at Triton Junior/Senior High have gone well. He said he is beginning to put names to faces of both staff and students. [[In-content Ad]]
BOURBON - The Triton School Board approved three resolutions Monday dealing with the reorganization of Triton School Corp.'s retirement and severance plan. Triton schools have been working since 2000 to meet Indiana's mandate that all school systems must be prepared to forward pay retirement/severance plans for employees by Dec. 31. The schools must begin to forward pay Dec. 31, 2004.
The resolutions passed Monday were a bond resolution, authorization of a hearing on additional appropriations and a tax neutrality resolution. According to schools superintendent Ted Chittum, the resolutions put the school corporation in a position to sell bonds in February or March, which will allow them to comply with the new state mandates.
Chittum said with the new system of forward paying retirement/severance benefits, the school corporation will know exactly what their costs in that area will be each year and employees will have more control over their benefits.
"It will be very similar to the way it is in the private sector," he said.
The reorganization has been in the works for more than three years. Chittum said completion is in sight.
"It's something that the teachers' union and a board representative and myself have worked on and we're finally getting it resolved," he said.
In other news, Triton Elementary principal Tom Bowers reported to the board that his school was joined by many community organizations and private donors in assisting the families of 90 students in Triton schools with gifts and warm clothing for the holidays.
Bower said, "We're not a social service agency and we're amazed at the response we received. But that's just what the season is about - giving."
Triton Junior/Senior High School principal Mike Chobanov reported that Triton eighth- and 10th-graders improved last year's ISTEP scores. Chobanov said he is happy with the progress and intends to work with his staff to ensure continued performance.
"There's always room for improvement, but the staff's done a very good job," said Chobanov.
Chobanov also said he thinks the first few weeks of his job at Triton Junior/Senior High have gone well. He said he is beginning to put names to faces of both staff and students. [[In-content Ad]]