Few school districts set up benefits trusts

Amy Hetzner:

School districts throughout Wisconsin could be losing out on thousands of dollars in aid by not setting up special funds to pay retirement benefits for their employees.
Only 32 of the state’s 426 school districts in the 2004-’05 school year had established the trust funds, which set aside money to pay promised benefits to employees once they retire, according to Kathy Guralski, a school finance auditor with the state Department of Public Instruction.
At least 10 more established them for 2005-’06, although they have not submitted their final paperwork, she said.