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Three Village reports $6 million-plus benefits increase as health costs surge
Summary
District administrators told the board that rising health insurance and retirement costs would raise employee-benefit spending by just over $6 million in the preliminary budget, exceeding the district's 2% tax-cap allowance.
Three Village Central School District officials told the board that rising health and retirement costs will push employee-benefit spending up by just over $6 million in the preliminary 2024-25 budget.
At a public meeting presentation, Dr. Scanlon said health insurance premiums are projected to increase 12.7% next year and that the district's portion of that increase is "a little over $5,000,000," calculated on current staffing. "Our health insurance is increasing next year at 12.7%...the increase to next year's a little over $5,000,000," he said.
The board was presented with additional line-item estimates: a projected Social Security (FICA) increase of roughly $350,000 tied to higher salaries and wage levels; combined smaller benefit categories (workers' compensation, life, unemployment, disability and dental) rising by about $38,000; and a retirement contribution increase (Teachers' Retirement System and Employees' Retirement System combined) estimated at about $578,000. Taken together, the presenter said, the total budget…
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