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Medford School District Develops New Compensation Plan
The Medford School District has unveiled a new compensation plan for administrators, managers and confidential staff. The district says the changes will help keep the cost for affected employees “relatively flat” for the coming year, and also significantly lower the cost of employee benefits in the future.
According to their press release, the district will pay- for the first time- a varying amount for employee health insurance coverage. Employees will also pay a premium that will vary according to the amount of the deductible.
Administrators, managers and staff will also continue to contribute 6 percent to the PERS pension system.
These employees will also receive a one-time stipend of 2 percent on their base salary and get a 4.5 percent cost of living raise this year. The amounts for 2013-14 will be determined next year.
Terms of early retirement benefits have not yet been determined, but will be by the end of 2012.
This plan covers the next two academic years. The pay increases are retroactive to July 1st, and the insurance plan options take effect October 1st.
District Superintendent Dr. Phil Long expressed appreciation for the willing of the employees to "lead the way on the tough issues of insurance and early retirement costs."