St. Charles school officials learned this week they'll have to start looking for a new superintendent, but not in the immediate future.
St. Charles Unit District 303 Superintendent Don Schlomann inked a contract extension with the school board, but in doing so he announced he will retire in June 2017.
Schlomann's contract was set to expire in June 2013. The contract extension gives the school district a clear time schedule for finding a new superintendent. It also creates a path to Schlomann's retirement that includes several enhancements to his compensation.
District 303 taxpayers will foot the cost of annual premiums for a term life insurance policy for Schlomann with a benefit twice his annual base salary. That base salary will be $225,000 for each year of the new contract.
Taxpayers will also pay for all of Schlomann's required contributions to his pension and health insurance. The school district will pay 100 percent of family health insurance benefits for Schlomann under the new contract.
"The superintendent did not have the option of choosing to receive the contributed amounts directly," reads the provisions of the extension. "Such contributions are made as a condition of employment to secure the superintendent's future services, knowledge and experience."
As an added retirement benefit, Schlomann may choose to defer compensation or authorize a salary reduction for the purchase of annuities. Taxpayers will also fund a $15,000 contribution to a tax-sheltered annuity or 403(b) or 457(b) retirement account for Schlomann.
On top of that, Schlomann will receive a 6 percent annual "retirement incentive" in the form of a tax-sheltered annuity policy or custodial account. The actual amount of the contribution will be 6 percent of the amount paid to Schlomann as his base salary, plus the $15,000 contribution, plus any redeemed vacation day payments Schlomann cashes in. Schlomann will receive that additional compensation for all four years of the contract extension.
Schlomann will also receive a $7,200 automobile allowance as well as additional reimbursement for travel related to his official duties. And taxpayers will also pay Schlomann's monthly cellphone bill.