CHICAGO (FOX 32 News) - Big changes are being made to pension plans for Chicago Public Schools. New CEO Forrest Claypool says some workers are going to be losing their pension contributions to save money.
Claypool is expected to announce that the district will no longer pick up pension contributions for its nonunion central office employees Wednesday.
All central office and network support workers, and other nonunion school support staff will be affected by the process. Principals and assistant principals will not be included in the change.
Over the next three years, Claypool will phase out the 7 percent employee contribution. Claypool says the move will save the school district $2.9 million this year, $3.9 million next year, and $11.1 million by 2018, according to the Chicago Sun Times.
The pension cuts are not the first move by Claypool to save money for CPS. Just last week, Claypool cut 11 staffers and implemented several policy changes.