As part of the State of the State speech on Tuesday evening in the Hoosier's State Capital of Indianapolis, Indiana’s governor on Tuesday outlined to state legislators how to free up tens of millions of dollars to boost teacher pay but said he did not want to dive into the depths of a plan until 2021.
Republican Governor Eric Holcomb told lawmakers in his speech that he wanted to tap into the state’s $2.3 billion in cash reserves in the 2021 legislative session to make a $250 million early payment into a state teacher pension fund.
That proposal comes as Holcomb and Republican legislative leaders have resisted calls from teachers unions and Democrats for immediate action to improve the state’s lagging teacher pay, along with a rally held back in November where several thousand teachers attended a rally during which stagnant salaries were a top concern.
The governor has repeatedly said he would wait for recommendations later this year for what he calls a “sustainable plan” from a teacher pay commission he appointed in February.
Holcomb pushed a similar early payment for another teacher pension fund last year which officials estimated saved school districts an estimated $65 million a year.
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