And so is that the benefit? Cuz >> So like you want they want people to retire early. Is that what you're saying? >> Is that true or is that like a benefit? I I don't know. >> So great question. Great question though. The benefit. >> Yeah. So actually more money retirement. >> The district and the employee both want the money paid out. This is where we deal with education and why it flips after a while. Why we go from the 80% going to special pay to more going medical because eventually people understand it that if I'm I'm 55, I want the money paid out this way. I don't want it paid out through payroll because I'm losing money that I shouldn't be losing. I don't save 7.65% if I get paid out through payroll. I save 7.65% if it goes through the prime plan or the prime choice plan.
There's a new version coming in. So, we eat that initial cost again because there's some new materials involved in that. There are some components we would be able to reuse um like the word tiles and some of that, but they they get us with a a new adoption cost. And then about $35,000 a year annually. Um, again, this is the the first read of that. Spalding is about I I gave you a cost of 21,350. It's probably not that high. Um, but similar to our AP, we have some work to do to make sure that we're supporting what we've approved as a district and historically we've I'm going to say not always done the best with it. Um, at least with Spalding. So that takes into account yearly training. So I just built it assuming we had two new teachers. Given that there's 10 teachers on that campus, we're probably not turning over two every year.
>> So Michael I have a question and um you know this might be one for our legislators when they are visit us. Um but so GIC initially when the town went with GIC which 2015 16 >> yeah did the agreement in 2015 and then it became effective I believe in 2017. >> Okay. So there was a huge cost savings, right? And I think that was really part of um I mean that was the motivation on the town side and certainly on these insurers. Um it they're they were motivated to get all of us to buy in, right? Which they did and now since that time they have eaten away at the cost savings and so now we're we're spiking. I don't know what it's out what's out there in uh the private industry or that but uh it's probably pretty similar. >> Um so the so is there any conversation about um a different approach now for for govern government government employees in in terms of maybe getting out of the GIC if it's not bringing value to us any longer.
Every I walked into a few seniors and they were all like I asked them the question they were all like oh no keep it the 20th like no matter what. And I'm like, "Okay, like I understand." But then I asked about grad party. >> Oh, I'm hearing it, too. >> Yes. >> It seems like this this could be a a an opportunity to to maybe come to a consensus and float that and just make float an idea to the administrators and to other major stakeholders and see because we we meet again in two weeks. >> Yeah. I feel like it's way too early to I mean, we going to have a freeze on Thursday, knock on wood, that we don't have another day >> to worry about, >> right? I feel like we're >> that I know it's only the fourth of March >> this evening.
So, and and like you said, there's some opportunities that we might miss if we're not able to have EMTs present. Um, but just some thoughts, food for thought or if you have any other questions, but those were what I was Mr. Diaz, Miss Dion, go ahead. I I actually if if I heard you correctly about the D or higher, I was wondering if that was something that could be, you know, discussed because I do know that a lot of kids do look forward to the sports and they have a lot of responsibilities, you know, whether at at home or at school or whatever else is going on in their lives. And when I seen that they must have a deer higher, I was like, maybe we should kind of think about in increasing that just to give them, you know, a chance to show that they can do the work and they're going to be prepared for real world.
So people event the education takes a little bit and we're very big on it. You know generally what we'll do with districts or roll out we do an in-person meeting um if zoom capabilities you know we'll do a zoom meeting and then when we reach out to employees to get these exit interviews scheduled we give them an employeef facing powerpoint that goes over all of the benefits and pitfalls of both options because you know everybody needs to know in a sense what's going on before they make a decision. Then we have that 15 to 20 minute exit interview. Usually the first 5 to 10 minutes of that exit interview is answering questions from the employee. So education is really important. That way when you uh you know why you want the money paid out this way. I'm 55. I want it to go into a 403b for a day.
But if we did, that would kind of be our overall cost. Um would be 21,000 for the next seven years. So, it's a pretty nominal cost, but I want to make sure that we build that in to to ensure teachers are getting the right training so they're implementing it effectively.
Certainly, it's a huge number of people across the Commonwealth that partake and that one would expect that there would be some benefits, financial benefits to communities and to the individuals who participate in the insurance. >> It it all depends. If um you have a lot of people that join and they use the insurance a lot, it actually works against you. um if you have a lot of people join and they don't utilize the insurance, yeah, that that definitely helps. And that's known as your utilization rate. And so what was happening when when Ashland first uh joined, not too many communities had joined. Um and so since that time, uh all these other communities were seeing the financial benefits and so they would join. And let's just say municipal employees for some reason have a higher utilization rate. um on the insurance than what was known previously.
>> So, could I could I make a motion to combine one and four to do a >> Wait, I still hold that. I'm sorry. >> Yeah, I just got question. Um, >> so since Lamont declared a state of emergency, the state department of education did say that they will issue a waiver for February 23rd. So, does that mean then we only have seven days, right? Hm. >> Does that qualify only if we've gone 188 days though, >> right? >> No. >> I read something about Oh, no. New York. Yes, New York did that. Yeah, you have to exhaust all your days. >> Sounds like homework for Stephen. [laughter] >> I mean, I found it when I when I Googled it >> last last week. But, um, >> it would Yeah. take us back to 23rd. >> So, then it would end on the 23rd. >> Yeah.
um I guess whatever it is they do after high school that they can do it and just kind of raise the bar a little bit more like um Wendia said because I think that's something that is important for us to say that we do believe in you to say that you can do this you know to improve your grade if you really want to and this is how you're going to show up show you know be prepared when you're ready to graduate and move on to um the workforce or um higher education. So that is a good idea. I just wanted to recognize that. >> Thank you. Miss Silia, >> I guess kind of in that same line with regarding eligibility, is there um in the athletic program, do you do anything to assist the students that are not eligible? >> Yes, we do. >> And also, um I am.
Even if I'm just going to take it out, that way you save the 7.65%. Yeah, we're just that last question we can put down and then Joel can send >> to the group. >> And I did want to just answer Katie's question on the district side of it. There's no intent of the district to have anyone retire any other time than when they want to retire. And in fact, uh, when you, uh, do retire earlier, it it costs us more because we have to pay the same. That's a match. The 7.6 is a match. So, all we're saving in this plan is the exact same thing that our employees are saving. So, when you don't have to pay the 7.6, we don't have to pay the 7.6 match. So, that's where the savings comes. And when when you retire, if it's after 55, we get that savings.
>> Any questions? I know it was a lot. >> Yeah. Has Spalding made any um any um I don't want to say improvements but made any adjustments in their as as they move forward. >> I may not be the best person to answer that. Um I think they have made some adjustments. It's still a different system. >> Back to basics. >> Yeah, it is more of a back to b it's like I said it's just a different approach. It's that more linear approach. Um I would say it's not as well aligned with science of reading but it is very common in traditional schools right so there's kind of that piece of do we make that >> synonymous >> I mean I I like spalding so yeah >> okay any other questions you'll come back to >> I have a question um so it looks like they scored 95% at 79% and then post presentation correct and uh foundations at 42%.
So that's one of the reasons why you're seeing an escalation go up. Um in terms of looking at other options, that's something that we've done really the last couple of times where we've had an opportunity to go back out, which is every three years, right, Katherine? Um and uh so the la each of the last time we looked at at that and looked at our utilization rate, it didn't make any sense to to go back out. The the vendors were like, "Yeah, we don't think we can be competitive on this." >> Well, regardless, I mean, you say we were one of the first communities that joined, right? So there was significant savings and now they GIC benefits from you know a a massive number of of you know individuals partaking and it does does seem like in some way shape or form there should be some kind of um benefit that seems to have uh slowly been >> chipped away at.
>> Would be the last. >> I thought it was only if you'd gone to But then we also talk about >> Junth. Junth if you went beyond June 30th. >> What's that? >> It's not if you go beyond June 30th. >> No. >> That's right. >> So we'd have to petition with the state though. Still >> to ask for it. >> I mean the way it read it reads it says the state education department has issued a waiver for school districts that are under a state of emergency from the 180day instructional requirement. So we can we can >> that means that schools that are closed will not have that day off counted against the required number of school days. >> Is that the only state of emergency that we have? >> So far >> only that one snow day is the 23rd. Yeah. >> Shucks.
>> It's right here. And so just turn it up. But yeah, so that was going to be my question and that way that even and and then if they're even at a D, you know, are we assisting them to be there first and preventing them to get any lower than that and then like recording them to go to tutoring or, you know, something like that or or providing some type of study time with their peers or their athletic peers to to adv to to look at and think about exactly what they need to do to get that grade to the level they need to. >> We are doing this, Miss Silia. Uh we currently this year uh school gets done at 2:30 and a lot of their coaches can't be there until 3:30 or aren't allowed to uh to start coaching until then. So we have this little hour time and our our our athletes head down to the cafeteria and they sit together in study hall and they work.
If it's before 55, we don't get the savings and you don't get the savings. So, it doesn't matter. We don't really have a It doesn't affect the district either way where you when or where you retire. We're just trying to offer an additional benefit um that has an equal amount of savings for both sides. >> I I just add a quick thing. I understand how the district's saving. I understand how your money and the third party wants making their money. Um, I like to save money as much as anybody else, but the Medicare and FICA taxes do go to pay for something in our society. So, what what are we not helping pay for as members of a society when we're not paying our Medicare and FICA taxes? >> I will actually can speak to this a little bit. I Ben and I have in a previous life, we help people with Medicare.
Did anyone there bring up an alternative like Spalding or something else and they only scored that high because those were the two options? Is there something else that they gave feedback they would like to have entertained >> so that we're making sure kind of like Mr. bigness where fabric of a nation came to us but then we went back and came back with three and then there was this more awesome option is >> there were others there I was not at that final one so I'm going to phone a friend >> okay vigorous head shaking of the no okay so no that but that's good though and I appreciate the authenticity Um, just like on the third option that we mentioned earlier, that's really helpful for us to know I really or we or they or you know whatever, right? Really love this or even >> we really don't like this at all.
>> Yeah. shipped away at >> Well, it's not. >> It's not. >> Well, and that's the other thing is is the other um nice bit of news uh that we received earlier this week is uh Keith Tech voted on their budget and um so unfortunately the uh increase >> that's huge >> is pretty substantial. Uh so $350,000 approximately. Um a pretty substantial increase that we uh we weren't necessarily budgeting for. I don't remember exactly what we had originally, but um you know, we got a couple more of these big numbers to kind of get in before, you know, we can really really feel like we've got good fidelity going into um going into May. >> Now, what was driving the the um decrease? What drove that? um budgetary um and we have more students going. >> Oh, we do? >> Yeah. So, >> I think it was like 12 students.
>> Yeah. The big one is that >> and then Junth I know that's something we have to talk about too. >> Yeah. Have to have >> that's a holiday. We have to have act we have to have a if we're in school on the 19th we have to have um >> an activity or something like veterans >> which we'd prefer to do >> right absolutely >> keep that a school day and we'll make sure that we honor the >> Is there any way to take Good Friday. I know that people aren't gonna love that, but it's >> I mean, I think we're gonna have a problem with >> it could be >> I think we're gonna have a problem honestly. I think we're gonna have a problem with teachers at the end of the year, too. If they don't live in this town, their kids are out of school two weeks before they're teaching.
They've got this time available. Uh all our teachers, we talk to them about it. You know, we want you to hold our kids accountable and we also want to make sure that there's always a path to success for all of our kids. uh if and and we uh we we typically we we do want to put this squarely on the shoulders of our students. Yeah. That where we say it's it's your responsibility now to go to your teacher and ask the magic question, >> you know, so what can I do about my grade? What can I do to improve my grade? And I always counsel them, please ask, how can I improve? Don't ask, what am I missing? They're going to stack you up with a lot. Ask them how can I improve? And they will they will tell you. Teachers will have a path to success for you.