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Cheltenham SD prepares preliminary budget; PSERS rate holds and medical/prescription cost trend eases
Summary
Committee members reviewed budget drivers for the preliminary budget, including a PSERS contribution rate that did not increase, expected employer pension costs, and moderating medical/prescription premium pressure tied to contract negotiations and claims experience.
Cheltenham School District finance staff reviewed key budget considerations for the preliminary budget at the Jan. 7 finance meeting, including pension contribution rates and employee medical and prescription cost trends.
Staff reported there was no change to the Public School Employees’ Retirement System (PSERS) employer contribution rate announced Dec. 15; the district will continue to budget at 34% of salary rather than the previously projected…
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