Teachers' pension change means savings for Kamloops district

By Tanya Cronin
February 16, 2016 - 12:06pm Updated: February 16, 2016 - 1:10pm

KAMLOOPS — The Kamloops-Thompson School District is scaling back its matching contribution to the Teachers' Pension plan. 

District 73 received a letter from the Teachers' Pension plan, stating there is a $449 million surplus within the pension plan. With that, employer rates in school districts across the province will be reduced for next year. The rate reduction will save the Kamloops-Thompson School District $1.2 million money that will be put to good use.  

"That will free up some room in our budget to maybe help out with some of the other things that we need. Add more teaching staff or we're still going to have a declining enrollment, we're reducing rates there, we have to find those administrative savings and we haven't heard yet for sure, but hoping we can use some of that to offset some of our administrative savings," says Karl de Bruijn, Superintendent, School District 73.

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