Dist. 300 superintendent will retire in 2011

Community Unit District 300 Superintendent Ken Arndt has announced he will retire at the end of the 2010-11 school year.

Arndt's retirement package, as well as his salary and benefits until he retires, were outlined in an agreement approved Monday night.

District officials said Arndt's retirement package is modest compared to superintendents of other large school districts in Illinois.

"This is not Connie Neale," District 300 spokeswoman Allison Smith said, referring to the former Elgin Area School District U-46 superintendent who came under fire for her generous compensation and retirement package.

The agreement the District 300 school board approved Monday - an addendum to the employment contract that expired this year - increases Arndt's salary by 3 percent each year until he retires.

Arndt will earn at least $187,000 this year, not including bonuses. When he retires, his salary will be at least $199,000.

The agreement gives the school board the option to give Arndt a 3-percent annual raise on top of the 3 percent he is guaranteed. With these merit raises, Arndt's salary could rise to more than $210,900 by the time he retires.

Setting a 6-percent cap on Arndt's annual raises until he retires allows the district to avoid incurring a penalty the state imposes to discourage school districts from trying to boost retirement payments, which are based on the salary employees receive in their final years in a district.

Arndt could receive as much as $142,875 each year while he is retired and receive single health insurance coverage until he is eligible for Medicare.