Miller-McCoy board explores new retirement investment plan

Board members for the Miller-McCoy Academy for Mathematics and Business on Monday received an update on the school’s move toward adopting a new retirement investment plan for its employees. Board finance committee members said they want to find the best option for the school’s longest-serving employees and has looked at what other local charter schools include in their plans.

Report: Teacher pension plans drowning in red ink nationwide

The accrued deficit that now plagues Louisiana’s teacher pension plan is part of a 40-state trend, according to a report released Thursday by the National Council on Teacher Quality. The Teachers Retirement System of Louisiana’s $10.8 billion deficit is part of a larger sea of red ink resulting from risky investments, erroneous market predictions and a history of inadequate contributions.

Old debt pushes up cost of state pension systems

In the past five years, schools have had to pay more to participate in the Teachers Retirement System of Louisiana — rising from 15 percent of an employer’s eligible payroll in 2008-09 to about 25 percent in 2012-13. Why the jump?

Board approves retirement plan for Craig, declines to assist Carver alumni group

Friends of King School met in regular session on July 25, after passing budgets for the two schools under the board’s management: Martin Luther King School of Science and Technology and Joseph Craig Elementary. Principal Doris Hicks, chief executive officer of the schools, updated the board on an overture from a group of George Washington Carver alumni interested in getting Friends of King to help them apply for a charter to run their troubled high school.

Hynes budget increase reflects rising cost of employee benefits

The Hynes Charter School’s board announced at its annual budget hearing that rising teacher benefits and facilities costs accounted for spending hikes in next year’s budget, effective July 1. Next year’s budget is slated to be $5.4 million, a 7 percent increase from last year.