Addendum from odum: This is a very big deal. Treasurer Spaulding has allowed himself to be used as a Democratic beard by many on the right on this issue, and I have little doubt that his participation in this agreement dramatically undermines the planned anti-union and anti-public-education demogoguery (masked as budgetary pragmatism, naturally) that we were all in store for this session. This is good news.

---

In a news release from Vermont NEA Communications Director Darren Allen,  it was revealed today that the Vermont NEA,  Vermont Treasurer Jeb Spaulding, Senate President Pro Tem. Peter Shumlin and House Speaker Shap Smith have reached an agreement on retirement provisions for Vermont’s teaching force.

Thanking Messrs. Spaulding, Shumlin and Smith and recognizing the challenges they undertook, NEA President Martha Allen made the following statement:

We all focused on 3 interests this past month:

·That of the teachers and the state in addressing the current budget deficit

·That of the teachers and the Retirement System in making its future more secure

·That of the security and dignity of teachers after dedicating a full career to public service

What we brought to the stage was a willingness of teachers to consider working a bit longer and paying a bit more, and a firm resistance to their getting less when they retire.  What we’ve all produced is better: teachers working a bit longer, paying a bit more, but getting more when they retire.

Allen went on to say that the agreement will save the Sate of Vermont fifteen-million per year and

…taxpayers an additional huge amount – more than $80 million – regarding the cost of retiree health coverage over the next decade.While increasing the amount teachers will receive as pensions and providing health coverage for their spouses.  And, finally, we are accomplishing this without shifting the cost of the retirement system onto the backs of property taxpayers.