Update: Retiring from the Sun Prairie Area School District

So many people have inquired about this data, that it was time for an update. We've posted some limited retirement data in the past, but now we have a sizable pool--for teachers at least--from a compilation of retirements in 2008 and 2009.

Based on a dataset of 23, the average teacher in Sun Prairie is retiring at a salary of about $68,500 after about 33 years of teaching. Seems like a LOOONNNNGGG time, doesn't it? Well, if you figure that the minimum retirement age under the state retirement system is 57, and the average fresh out of college teacher is age 24-25, it takes a good 33 years to retire.

Benefits for SPEA members cost roughly 50% of their salary.

In comparison, support staff who are members of the "Local 60" union (based on a smaller data set of n=8) retire at an average wage of just under $17.00 per hour.

Benefits for support staff cost about 25% of their salary.

We also have one member of administration [not quite in the 100K club] ($ 92K) and also one retiree from Administrative support ($ 54K).

Retire at over $68,500?
How is that possible? But...but...teachers are only paid about $30,000 to start.
True...all true. But contracts include what is called a salary grid, with "steps" (1 step = 1 year of experience teaching) and "lanes". Every 6 credits earned moves you into the next "lane". Lane changes include a salary base increase of 1.9%. Step increases are 3.0%. And ,actually, the salary grid is maxed out at about 15 years (earlier for those with a BS/BA and less credits earned towards an MS/MA degree. Those members who are "off" the grid typically get as much as a 3.8% annual "step" increase.

This quick table is based solely on a 3% annual "step" increase and shows the salary progression from year zero (30,000) until retirement after 32 years of service. This kind of gets back to what we've discussed on several occasions. The downside of "percentage increases" is that in terms of new dollars, you get squat in the early years. A 3% increase for a teacher making 30,000 is a whopping $900, or it pays for about 6-8 weeks of groceries. But for someone like Dr. Culver, making over $145,000, a 3% increase means an increase of over $4300! That's vacation cash.

Year Salary
0 30000
1 30900
2 31827
3 32782
4 33765
5 34778
6 35822
7 36896
8 38003
9 39143
10 40317
11 41527
12 42773
13 44056
14 45378
15 46739
16 48141
17 49585
18 51073
19 52605
20 54183
21 55809
22 57483
23 59208
24 60984
25 62813
26 64698
27 66639
28 68638
29 70697
30 72818
31 75002
32 77252