Each Denver Public Schools student is allocated $250 less than students in surrounding suburbs and $650 less than kids in districts with similar demographics, according to the Denver district’s statistics.
At fault is a DPS-run teachers pension program that’s far more costly than its state-run counterpart, school officials told a House committee today, laying the groundwork for a potential legislative solution later this session.
DPS pays $50 million — or $800 a student — more toward teacher pensions than the state’s PERA system, said Tom Boasberg, chief operating officer for DPS.
District officials are talking with Senate President Peter Groff about introducing legislation that would merge the two pension programs.
Details are still sketchy as to how that could happen without harming state pensioners.
A drop in the number of students — and, therefore, the number of teachers — in Denver schools has left one active employee for each retiree drawing a pension, Boasberg said.
The state system boasts more than two active workers paying in for each retiree receiving a check.
DPS already is planning to refinance part of its pension program to save up to $18 million a year and is selling a handful of its buildings.
