The Knox Community School Board members took action Monday night to approve a resolution that deals with House Enrolled Act 1001. According to Superintendent Dr. William Reichhart, that legislation requires that each school corporation should determine the impact of the reduction of the teacher retirement fund.
“Here at Knox we have calculated that the two percent reduction in our Teacher’s Retirement Fund will result in a $100,000 savings,” stated Dr. Reichhart. This $100,000 will go toward teacher compensation.”
Dr. Reichhart said the money will be used toward teacher health insurance, compensation in terms of salary increases, and any other ECA benefits for salary-related items available to teachers at the school corporation.
