[The contract] will boost Chicago teacher compensation — already among the highest in the nation … to nearly $100,000. (By contrast, the median Chicago household earns $52,000.)
Teachers will now be permitted to bank an incredible 244 sick days (up from 40) and claim full pension credit for those days upon retirement, creating new demands on a teetering pension system.
The deal keeps teachers’ retirement contribution at just two percent of annual salary while slashing health care copays.
The contract will cost up to $1.5 billion over the next five years, in a city whose debt burden is already a staggering $119,110 per capita.