"School districts saw Public School Employees Retirement System contributions rise 72 percent from 4.78 percent of the payroll in 2009-10 to 8.22 percent in 2010-11. Yet that jump pales when compared with the increase slated for 2012-13, pushing the district's contribution to 29.22 percent of payroll.
The state House approved a bill to roll back future PSERS contributions until they gradually rise to comprise 20 percent of the payroll in five years. Under that plan, which awaits Senate deliberation, taxpayers will still foot the bill for a decade of lowered employer contributions and a fund that relied heavily on a decimated investment portfolio, but slightly later than expected."
Really? 29.22 percent of payroll will be for pensions? This is insane. I know this is the law, but given the horrible economic world we live in (and all the people who have lost their pension or never had one) how can this even be still possible?