Announcements

         Dear DPS Community: 

In the midst of the current campaign season, there has been a great deal of misinformation circulated about the strength of our pension fund.  We want to make sure that you have the facts.

Read an open letter from several current and former Board members |  View 30-year projection graph

First and foremost, DPS is entirely committed to the retirement security of all of our employees and retirees.  And, to set the record straight, we want to share with you last weeks report from PERA's independent actuary which shows: 

• The DPS pension fund is far better funded than the rest of the state's retirement fund;
• The DPS pension fund will reach full funding a decade earlier than the rest of the state fund; and
• Our pension fund will reach a 140% funding level at the end of 30 years.

Please see the attached slide presented last week by PERA's independent actuary, Cavanaugh Macdonald Consulting. 

As a result of the 2008 pension financing, DPS has saved over $20 million compared to if we had not done the transaction.  And, while other Denver metro districts have laid off teachers, implemented furlough days, and raised fees for transportation and student activities, DPS has been able to increase spending in the classroom to better serve our kids.  That additional investment in our classrooms is a direct result of the savings from the pension financing. 

And, we have the results to prove it's working.  Two thousand more students are enrolled in DPS early childhood education programs, our graduating class of seniors increased by 12% this year and we've doubled the number of students enrolled in Advanced Placement classes and concurrent enrollment programs.  We look forward to sharing the 2010 CSAP results with you on Tuesday. 

We also want to pass along an open letter to the community from current and former DPS Board of Education members who understand and value the benefits this financing has brought to our schools, staff and students. 

Sincerely, 

Tom Boasberg, Superintendent 

Nate Easley Jr., President, DPS Board of Education