Why public school employee benefits matter

The left-wing media establishment is busy focusing on teacher pay, but they should spend some time talking about teacher benefits.

Salaries were a $5.9 billion state expenditure last year.  The latest expenditure reports published by the N.C. Department of Public Instruction shows that $2.2 billion (25.6 percent of all state education expenditures) were used for employee benefits.  That includes $986 million for retirement, $433 million for Social Security contributions, and $734 million for health insurance.

Employer’s Social Security – Regular  $432,684,016 4.98%
Employer’s Retirement – Regular  985,668,538 11.35%
Other Retirement Cost  24,105 0.00%
Employer’s Hospitalization Insurance  734,208,909 8.46%
Employer’s Workers’ Comp Insurance  45,327 0.00%
Employer’s Unemployment Insurance  4,388 0.00%
Employer’s Dental Ins Cost  – 0.00%
Employer’s Life Insurance Cost  – 0.00%
Other Insurance Cost  2,235 0.00%
Longevity Pay  22,923,103 0.26%
Bonus Leave Pay  1,741,903 0.02%
Short Term Disability Pay  1,167,351 0.01%
Annual Leave Pay  39,827,064 0.46%
Short Term Disability Pay – First Six Months  4,782,600 0.06%
Subtotal:  $2,223,079,539 25.60%

 

Terry Stoops / Vice President for Research and Director of Education Studies

Terry Stoops is the Vice President for Research and Director of Education Studies at the John Locke Foundation. Before joining the Locke Foundation, he worked as the progra...

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