Fox News has just reported he is going after the out of control state pension system. NJ is on the brink of insolvency.
Hey VC, how guaranteed do you feel about your pension? I thought pensions were unaffected by this recent downturn.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Details: A teacher only puts in 67k+/- but in retirement draws out 1.5 million in pay and 265k in health bennnies +/-. Hech of a deal but totally unrealistic to expect states to live up to those promises. Pensions are the biggest issue facing states in the union, according to Smith Varney. Just because your state isn't listed, don't think it doesn't have a problem.
Top states that face this problem: RI, NJ, FL, MI, WI, IL, OR, CA, NV, AZ
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
It's the union's, always has been always will. Thing is on the few occasions that I've been a union member, all they wanted was your initiation fees and dues, past that they didn't want to know about you.
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Obama=The Fourth Reich,
Just look at the parallels of the Nazi regime and the Obama Administration amazingly similar arent' they.
It is much more than the unions. The Oklahoma teachers pension system is greatly underfunded. Our political hacks refuse to adequately fund the system.
There was a guy- a ny typing teacher/ beck on fox was talking about one day.
Made 100+k a yr- was 2 yrs past retirement ( would collect 82k+? a yr when retired), who ssat alone in a office all day pretty much doing noting i guess- because he couldnt be trusted around his young female students/ -
My nurse( mate ) who worked for NYs( well a county hospital really) was a nursesunion member.- gets a nys pention. Im surprized there not on the list- either way there going broke to i believe.
She Didnt get any kinda sweet pension deals like those mentioned at all -no bennies not much cash either
She did get good bennies , many payed days off, payed heath care etc etc( whole heathcare systems wasunderfunded/ understaffed there) while she worked there.
Gave up all those nice bennies/ payed heath care etc & a pay cut to move to Wy.
Isnt that how one gets ahead in the world?
Gave up all those high high NYs taxes to & a job that sucked big time- & local crime & grim As a plus no more attica etc prisoners to take care of
Should have moved 20 yrs sooner even is all.
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Let others praise ancient times; I am glad I was born in these.-- Ovid (43 B.C.-A.D. 18)
Things ain't what they used to be and probably never was. ~Will Rogers
Tomorrow hopes we have learned something from yesterday.
"Shouldn't someone tag Mr. Kennedy's 'bold new imaginative program' with its proper age?" "Under the tousled boyish haircut it is still old Karl Marx—first launched a century ago.
There is nothing new in the idea of a government being Big Brother to us all. R.Reagan-1960
There was a guy ( nurse) at that same hospital who killed a patient ( non prisoner) by stranging them i i remember. He got a big promotion/ new job & a pay raise( and very little contact with patients after that
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Let others praise ancient times; I am glad I was born in these.-- Ovid (43 B.C.-A.D. 18)
Things ain't what they used to be and probably never was. ~Will Rogers
Tomorrow hopes we have learned something from yesterday.
"Shouldn't someone tag Mr. Kennedy's 'bold new imaginative program' with its proper age?" "Under the tousled boyish haircut it is still old Karl Marx—first launched a century ago.
There is nothing new in the idea of a government being Big Brother to us all. R.Reagan-1960
Posted on Friday, February 12, 2010 9:33:51 AM by Libloather
Teachers fear cost-cutting measure will hurt their retirements
By Amy Crawford
TRIBUNE-REVIEW
Monday, February 8, 2010
As an impending spike in required contributions for public school pensions weighs on the minds of school directors, teachers are worried that a move to mitigate the cost to school districts could hurt their retirement.
"I get questions from members every day, no matter where I go in the state," said Butch Santicola, a spokesman for the Pennsylvania State Education Association, the state's largest teachers' union. "Everybody's concerned."
**SNIP**
For the Hempfield Area School District, for example, the increase would mean an additional $5 million per year, on top of its $80 million budget.
School directors and administrators say they cannot possibly afford such increases, and many are looking to Harrisburg for a solution.
In December, Rep. Glen Grell, R-Cumberland, and Sen. Gene Yaw, R-Lycoming, introduced pension reform legislation drafted by the Pennsylvania School Boards Association.
House Bill 2135 would create a new retirement system similar to a 401(k) plan for newly hired school employees. Current employees and retirees would continue to receive benefits defined by their years of service and highest salary.
In the Franklin Regional School District, for example, a teacher with a master's degree can make a maximum of $82,100. Under the system, which would continue to apply to all current teachers, if the teacher retired after 30 years' service, his pension would be $61,575 per year. Under the system proposed by the school boards association, which would apply to teachers hired after this summer, the annual amount for a Franklin Regional teacher who retired at a top salary of $82,100 would be between $43,500 and $51,700, depending on how much of his salary the retiree contributed and how well the investments performed in the market.
Location: land of the Lilliputians, In the state of insanity
Posts: 24,185
Quote:
Originally Posted by falcon
It is much more than the unions. The Oklahoma teachers pension system is greatly underfunded. Our political hacks refuse to adequately fund the system.
Thats because they are not in a union. Neither is Texas. TRS is ok fund wise, to bad we cant get teachers.
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals don’t believe in either of them.
But I'm told it's only the healthcare costs that are the issues causing problems for pensions. Working for 30 years and then being paid for another 35 years has nothing to do with it. Plus, who cares, it's guaranteed benifits? Pensions are far superior to 401k's, Ira's and Roth Ira's.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Makes one wonder why the state and local governments signed these contracts knowing what was in them and what the future expenses would be. Bureaucrats being bureaucrats I guess.
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Obama=The Fourth Reich,
Just look at the parallels of the Nazi regime and the Obama Administration amazingly similar arent' they.
Govenor Christie
) who worked for NYs( well a county hospital really) was a nursesunion member.- gets a nys pention. Im surprized there not on the list- either way there going broke to i believe.
.
