Wednesday, July 16, 2008

Early Paychecks Benefit Membership: IPERS Early Payment Benefits Employees and District

RETRACTION NOTICE: In an article dated June 27, 2008, the LCEA Insider published part II of an article, "Early IPERS Payment a 'No-No.'" In it was a correspondence suggesting that there was a potential problem with the early payment of IPERS contributions on behalf of the LC School District. This has been the district's practice for five years. After discussing the situation with several authorities (including John Phillips, Beth Frank & Art Hill), we need to let you know that you should not be concerned with this practice as it was done to benefit our teachers. The letter suggesting that this was not allowed or that the paychecks were post-dated was incorrect. Our apologies go out to Mr. Hill for this incorrect information and for any concerns that this has caused him.

We would like to take a moment to thank Art Hill for sending paychecks out early to our members. As the old saying goes, "no good deed goes unpunished." We hope he understands our need to verify if this practice would impact our member's IPERS contributions in any adverse manner as other school districts have made mistakes that have impacted the retirement of their educators. We're thankful that he thought about saving us and the school district some money.

And we are also sorry to discover that he is leaving the LC family. He certainly will be missed. It appears that he was strongly encouraged by the city of CB to apply for the head financial postion. He applied in May. Mayor Hanafan announced his selection last Wednesday.

We'd like to thank him for his dedication to students and his upbeat, caring demeanor with your co-workers. CB's gain will be our loss.