Getting your player ready...
Denver Public Schools got the go- ahead from its board Monday to refinance its pension, which could provide the district with $18 million a year to be reinvested in schools.
Currently, the district’s pension is 88 percent funded, leaving the district with a $400 million shortfall that it covers at an 8.5 percent interest rate. The district will go to bid April 15 to fill in that $400 million shortage and fully fund its pension.
If the district gets an acceptable interest rate, it expects to close on the deal on April 17.
“Whether or not we are successful depends on market conditions,” said Superintendent Michael Bennet.
