Schools
Falls Schools Eye $6M in Savings With Retirement Funding Switch
The Menomonee Falls School District is thinking about switching employees from post retirement to a retirement plan similar to a 401K.
In order to save $6 million, the Menomonee Falls School District is thinking about switching its post-retirement health plan to a tax sheltered annuity, reported Menomonee Falls Now.
This kind of annuity allows employees to make contributions into a retirement plan, similar to a 401K.
District officials have identified possible deficit of $2.4 million in the 2013-14 budget. The district made a $2.2 million cut for the 2011-12 budget from the previous year.
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The school board will vote on the change April 8.
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