According to the report, Lieberman's plan would make the general education system run on a schedule more similar to the Haredi school system. That is, Lieberman's plan would have schools running as normal through July, going on vacation in August.  Working parents would no longer struggle to find solutions for their kids for the two month period, as vacation would only be August, part of which most parents take vacation anyway before the new school year starts. July school would have the teachers losing 21 days of vacation.

Then in the period of September - October, with all the holidays, there would be vacation for the holiday period with an addition of two weeks vacation either before or after the holidays, depending on the calendar. September-October holidays would give the teachers back 17 of the vacation days they lost in July. The teachers would then have a selection of 4 more vacation days that they can each choose to use whenever they want. 

Being that the teachers are not losing any vacation days, they are just being moved around differently, I am not sure what the extra pay is for. It seems to be a bribe to get them to agree to the plan, not compensation for working more. But then again, teachers deserve to earn more than they do anyway...

It seems though that they did not try to solve the Chanukah sechedule at the same time, and I dont get why. Chanukah always has the kids getting off of school (plus Lag B'Omer) for no particularly good reason, while the parents have to work. Some parents take vacation then, and some travel, but in general, once coordinating the schedules, this should have been taken into consideration as well.