Tier 6 Pension Plan Will Hurt Teacher...
First Prev
of 8
Next Last
Truth

Whitesboro, NY

#151 Aug 31, 2014
The Intellect wrote:
<quoted text>
Look at lawyers, some work for the District Attorneys office who later draw a public pension! How about Public Defenders or Legal Aid , they receive a public pension!! So I guess this pokes holes in your theory and argument?
How does that discredit my point of view? There are architects and engineers in the public sector who get taxpayer funded pensions too. What about them? I'm not sure what point you think you're making. If you want to compare then, compare how much private sector practitioners in each of these professions contribute to their retirement versus what their public sector counterparts contribute. What the eventual benefit will be will vary but if you take the ratio of what is contributed versus the total return, public sector employees are far ahead.

All public sector pensions need to be examined and brought in line with the real economy in the real world. The bankruptcy case for the city of Detroit starts Tuesday. Pay close attention to the facts in that case paying special attention to the similarities with New York.
realistic

Forest Hills, NY

#152 Aug 31, 2014
I'm so tired of hearing and reading about public pensions. Most people are so ignorant, they have no clue how they work. Teachers are required to have a masters degree, however their salary for the first ten years is so far below where they would be paid anywhere else. They make more money in later years because of the low pay in beginning, on purpose, to help with retirement. AND they pay into a pension, then that money gets invested and it makes million of dollars every year while it sits. Tax payers pay nothing!!!!!! The only reason why you are seeing problems in Detroit and new Jersey is because moronic politicians BORROWED the pension money that teachers put in out of their own pay checks, and they never paid them back because they have no clue how to balance a budget. However politicians and people use pensions as a scapegoat because of the ignorance of how the system works. Do some research, learn, then make a valid, educated statement.

"FACT CHECK: Are taxpayers the ones who foot the bill for public workers' pensions?
In a word, no. The modest amount the average public worker takes home is covered largely through investment returns--not the emptying of taxpayers' pockets. Public employees themselves contribute an average of 40 percent of non-investment contributions to their own retirement. " http://www.seiu.org/a/publicservices/fact-che...
Bob

Utica, NY

#153 Aug 31, 2014
Public Pensions are quaranteed annuities,
Truth

Whitesboro, NY

#154 Sep 1, 2014
realistic wrote:
I'm so tired of hearing and reading about public pensions. Most people are so ignorant, they have no clue how they work. Teachers are required to have a masters degree, however their salary for the first ten years is so far below where they would be paid anywhere else. They make more money in later years because of the low pay in beginning, on purpose, to help with retirement. AND they pay into a pension, then that money gets invested and it makes million of dollars every year while it sits. Tax payers pay nothing!!!!!! The only reason why you are seeing problems in Detroit and new Jersey is because moronic politicians BORROWED the pension money that teachers put in out of their own pay checks, and they never paid them back because they have no clue how to balance a budget. However politicians and people use pensions as a scapegoat because of the ignorance of how the system works. Do some research, learn, then make a valid, educated statement.
"FACT CHECK: Are taxpayers the ones who foot the bill for public workers' pensions?
In a word, no. The modest amount the average public worker takes home is covered largely through investment returns--not the emptying of taxpayers' pockets. Public employees themselves contribute an average of 40 percent of non-investment contributions to their own retirement. " http://www.seiu.org/a/publicservices/fact-che...
Last thing first. Let's check a more reliable source than SEIU(The Service Employees International Union) newsletter for pension facts. Try this:
http://www.economist.com/news/united-states/2...

Now, for the salaries part. A direct comparison of public school teachers and private school teachers shows that public school teachers earn on average 30% more.

As far as your exclamation "Tax payers pay nothing!!!!!!" you are just wrong and don't understand how the system works. All you need do is look at any municipal or school budget. A year to year comparison of any one of them will show that the cost for retirement and healthcare benefits to taxpayers does nothing but rise especially in troubling economic times like we've experienced since 2008.

The pension funds are evaluated constantly to determine how much is required to keep them flush. Money coming into the funds generally consists of employee contributions(the smallest amount), returns on investment and taxpayer(employer) contributions. When the economy is down causing return on investment to be down, it is the taxpayer that makes up the difference. Have you not been paying attention since 2008? Why else do you suppose Tier 6 was created? Why are the line items for pension and healthcare benefits the fastest rising parts of municipal and school budgets?

Here is a local example:
http://www.uticaod.com/article/20100122/News/...
The title is:
"Staggering cost of Utica teacher health benefits proves a burden to taxpayers"
The first paragraph reads:
"When the Utica Board of Education approved retiree health-care benefits for a large group of teachers 16 months ago, it had no idea what the added burden to taxpayers might be.
Now, officials do know — and the price tag is staggering."
Healthcare is part of the pension benefit package.

Here's another example:
http://www.uticaod.com/x171163434/Kicking-the...

I have done research. I have educated myself regarding how the system works.
You said:
"However politicians and people use pensions as a scapegoat because of the ignorance of how the system works. Do some research, learn, then make a valid, educated statement."
I suggest you educate yourself. A good first step is looking beyond a biased union newsletter for facts.
Matt Damon

Hamilton, NY

#155 Sep 1, 2014
At the end of the day I have a great pension and you don't so get over it! Some people make poor career choices in life while others do their homework!!
Truth

Whitesboro, NY

#156 Sep 1, 2014
Matt Damon wrote:
At the end of the day I have a great pension and you don't so get over it! Some people make poor career choices in life while others do their homework!!
So what you are saying then is as long as you're taken care of then screw the taxpayers and the general public? Got it.

Just for information's sake. There are a lot of people who did do their homework and chose careers in the private sector based on what they are good at and what interests them. Not based on how much of a taxpayer funded retirement benefit they could get.
Educator

Utica, NY

#157 Sep 2, 2014
I'm pursued a career in education for the following reasons ranked in order: 1)High salary,Great pension, Life-time health insurance, summers off, and lastly to share my knowledge with students!!
Snow Bird

Utica, NY

#158 Sep 3, 2014
Recently retired and living the good life between New York and Florida!!!
Union Guy

Utica, NY

#160 Oct 30, 2014
Bring back Tier 4 Pensions! or Teacher recruitment will suffer!!!
no 4 a fact

Syracuse, NY

#161 Nov 1, 2014
There isn't one teacher on here complaining...You people make up more sh*t ! Worry about your own pensions an leave these poor teachers alone. Every profession in the world started with a teacher. What the hell is your point ???
Hate Mongers

Rome, NY

#162 Nov 1, 2014
no 4 a fact wrote:
There isn't one teacher on here complaining...You people make up more sh*t ! Worry about your own pensions an leave these poor teachers alone. Every profession in the world started with a teacher. What the hell is your point ???
The point is that there are aszwipes like Truth who can't stand the fact that public employees get a pension. It's as simple as that.
Truth The Fascist

Rome, NY

#163 Nov 1, 2014
Truth wrote:
<quoted text>
So what you are saying then is as long as you're taken care of then screw the taxpayers and the general public? Got it.
Just for information's sake. There are a lot of people who did do their homework and chose careers in the private sector based on what they are good at and what interests them. Not based on how much of a taxpayer funded retirement benefit they could get.
Yea adzhole, & their are plenty of people who took jobs in the public sector because the job they took interested them. They weren't thinking 30 yrs. into the future looking for the day when they could get that big fat pention check, you aszwipe. Just eats you up inside don't it? You'd just love it if public employees had their pensions taken away wouldn't you? Then you could move on to your next target. Probably health care for newborns. Fascists like you are easy to spot.
RealityCheck

Utica, NY

#164 Nov 2, 2014
realistic wrote:
"FACT CHECK: Are taxpayers the ones who foot the bill for public workers' pensions?
In a word, no. The modest amount the average public worker takes home is covered largely through investment returns--not the emptying of taxpayers' pockets. Public employees themselves contribute an average of 40 percent of non-investment contributions to their own retirement. " http://www.seiu.org/a/publicservices/fact-che...
. And who pays the other 60%? the taxpayer. Even the big fortune 500 companies no longer provide such pensions ( not to mention retiree healthcare). Tier 6 is long overdue, yet it is still quite generous.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 8
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Utica Discussions

Title Updated Last By Comments
Utica OD---NO coverage at Turning Stone 11 min well 2
is it possible to find out who posted something... (Feb '12) 15 min misty 195
basketball boosters 31 min bad news 2
D AND D AUTO SALES/BODY RUTGER/oriskany (Apr '13) 33 min Sue 112
Oh SH1T! CLAUDIA TENNEY WINS NY22 PRIMARY BIG T... 44 min Bot voting for Cl... 4
Joelle Sebastian Dean 1 hr Vita 3
A&P Images 1 hr Done 37
rob esche getting divorced 8 hr Lol 52
Tony's Washington Mills 10 hr Parkway 10
Guess who didnt graduate from ND 11 hr MOM STILL RAISES 76
Carbone 12 hr yup 22
Proctor graduation 17 hr pears and apples 38
More from around the web

Personal Finance

Utica Mortgages