Teachers have Cadilac Pensions?
teacher

United States

#67 Jan 24, 2013
You say they pay federal, state, social sercurity and medicare on their income and they pay county, city and school taxes on their property. Interesting!

...and my contribution to medical was $17k last year. Just got my W2. A portion of that goes into a fund that pays for my medical ins. When I retire.
question answered

Hamilton, NY

#68 Jan 25, 2013
[QUOTE who=" teacher
"]
You say they pay federal, state, social sercurity and medicare on their income and they pay county, city and school taxes on their property. Interesting!
...and my contribution to medical was $17k last year. Just got my W2. A portion of that goes into a fund that pays for my medical ins. When I retire.[/QUOTE]

Seems to me that teachers are taxpayers too. Maybe they are paying a higher share of those taxpayer $$$ everyone is bitching about!
who cares

Carthage, NY

#69 Jan 25, 2013
Bodhisatva wrote:
Can any of the "no pensions for teachers" folks, give us a list: Does anyone deserve a pension? If so, who?
Pensions are given as a reward for a person's contribution and dedication to their employer for all their years of service.

Most Pensions also have certain criteria that must be met before a person is eligible for a Pension.

Most Pensions do NOT have an automatic Inflationary increase - just the ones for Teachers and Public Servants have these (thanks to their Unions).
Golden Perks

Utica, NY

#71 Jan 25, 2013
I am sure glad I have a Cola in My Teacher Pension!!!,
Truth

Herkimer, NY

#72 Jan 26, 2013
Stop the whining wrote:
<quoted text>
We do. We pay into the system. Our system is one of the strongest in the country. Do your homework and you will see that the teachers retirement system is stable and takes very little of the tax payer money. Teachers have paid into for years. The new tier 6 teachers will pay for the rest of their entire careers.
You are wrong. The taxpayers pay a lot into that system. Teacher compensation, healthcare and pension costs are the biggest thing driving school tax increases every year. The taxpayers pay the "employer contribution" and the difference between what the pension fund actually makes on its' investments and what the administrators project they will make.

The amount that teachers themselves pay into the system and in taxes is a very tiny percentage of what it takes to operate the system. Then consider that the money that teachers and all other public sector employees use to pay their taxes is money that was taken from taxpayers outside that public sector circle. Think of the it like this. I take money from someone. I put it in my left pocket. I take some of it out and give it to you. You in turn give me some of it back and I put it in my right pocket. It's the same money. The only new money came from the person I got it from.

If the pension system had to survive on what teachers put in it wouldn't last very long.
another voice

Lowville, NY

#73 Jan 26, 2013
Truth, you are correct. However, you also know that for decades, teachers' pay was low so district budgets stayed manageable. In the 70's starting teacher pay was under $7,000; many sources cite an average private sector wage of $17,000 or more with a comparable college degree. The pension was promised as a way to not only retain teachers, but provide some equity in pay over the course of a career. If you look at a comparison of cumulative earnings for 30 years between the 2 profiles mentioned above, you will find a HUGE discrepancy. And while the paid health insurance teachers enjoy is now significant, those costs have only recently (10-15 years) skyrocketed and become costly to the school district. For years, teacher unions were told, "we can't afford to give you a raise, but we'll pay more of your insurance." Now, when that benefit has some real value, they want it back. It's no wonder that teachers dig in on health insurance and pensions; those were the 2 "bones" that were thrown to them for years of lagging salaries. Teacher pay is better now, but I don't think they're paid commensurate w/ the salaries of CEO's or athletes. But that's another discussion. I do not have an argument against new Retirement Tiers (5, now 6) or higher insurance contributions for newly teachers so long as they're paid comparably to their private sector counterparts, which is not yet happening. But to criticize those benefits for teachers who accepted them in lieu of salary? No way. But here's what I'll do.(And I'll bet a lot of teachers would also be willing to accept this offer.) Compute the difference in earnings for a 30 years period between the teacher and the businessman.(We won't say business woman, because as you also know, the private sector's gender discrimination was/is legendary. Teaching was/is one of a very few professions where a woman's salary is on the same scale as her male counterparts.) That $10,000 annual difference in year 1 likely ballooned to $30-$40,000 over the last 10. Most teachers in this area who retire after 30 plus years are still only making $85-$90,000. It's reasonable to assume that the earnings difference approaches a half million dollars. Give me that money now. I'll trade you the investment interest I lost for my health insurance. Then we can discuss reducing my pension.
Well Off

Utica, NY

#74 Jan 26, 2013
I can't wait to collect my $80,000 Yearly pension, not including social security!!!!
teacher

Danvers, MA

#75 Jan 26, 2013
After 30 years in, my pension will be 60% of my final 3 yr. average. This will be about $40k per year. Cadillac pension???
Bobby H

Minoa, NY

#77 Mar 9, 2013
I'm making more retired than working from my Pension!!!
Donnie Henderson

Minoa, NY

#78 Mar 9, 2013
Great Pension Plan!!
NYSUT

Syracuse, NY

#79 Mar 10, 2013
Teachers deserve their Pensipns!!
Critic

Orlando, FL

#80 Mar 11, 2013
Blah, blah, blah. Please stop the envy. I used to teach and live in NY. I decided to teach way back when and did so for over 30 years. I didn't teach to get a pension, but it was part of the deal. I made the choice. YOU pension critics made YOUR choices. Live with YOUR choices and move on. Life is too short to envy and bitch about the choices YOU made, YOU are responsible for and YOU are sorry for. Learn and move on.

Level 7

Since: Mar 11

Location hidden

#81 Mar 11, 2013
Critic wrote:
Blah, blah, blah. Please stop the envy. I used to teach and live in NY. I decided to teach way back when and did so for over 30 years. I didn't teach to get a pension, but it was part of the deal. I made the choice. YOU pension critics made YOUR choices. Live with YOUR choices and move on. Life is too short to envy and bitch about the choices YOU made, YOU are responsible for and YOU are sorry for. Learn and move on.
It is not entirely their fault, they've been convinced to join and promote the "Race to the Bottom"
If THEY don't have a Pension why should anyone?
Truly a sad state of affairs.
Bodhi is an IDIOT

Utica, NY

#82 Mar 11, 2013
Yes, Obama is the organizer of the race to the bottom, soon everyone will be a bottom feeder like you and your mommy.
Bodhisatva wrote:
<quoted text>It is not entirely their fault, they've been convinced to join and promote the "Race to the Bottom"
If THEY don't have a Pension why should anyone?
Truly a sad state of affairs.
Jimmy Buffet

Kirkville, NY

#83 Mar 11, 2013
Why are people jealous of Teacher Pensions? They should earn $100,000 per year for what they do? Wouldn't mine paying higher taxes for Teacher Salaries!!!
another idiot

United States

#84 Mar 12, 2013
pEople care because teacher pensions are paid for with taxpayer money.
The tqxpayer has every right to STOP paying these pensions or get them reduced.
It os OUR business because it is OUR money.
Jimmy Buffet wrote:
Why are people jealous of Teacher Pensions? They should earn $100,000 per year for what they do? Wouldn't mine paying higher taxes for Teacher Salaries!!!
well

Ithaca, NY

#85 Mar 12, 2013
Dad's milk was good for you, and your non tqx mom.
Truth

Utica, NY

#86 Mar 12, 2013
Bodhisatva wrote:
<quoted text>It is not entirely their fault, they've been convinced to join and promote the "Race to the Bottom"
If THEY don't have a Pension why should anyone?
Truly a sad state of affairs.
It can reasonably argued that pensions should be shed in favor of a 401k type plan where both the employee and employer contibute throughout the employees career. That is the path that has been adopted in most of the private sector because the infinite pension plans are not sustainable.

That said, if the public sector wants to keep a pension system then the amount of the pension is what needs to be reined in. It is just not reasonable to expect the taxpayers to foot the bill especially in a flailing private sector economy. All of the talk here about the pension system being self sustaining is fantasy. It is the taxpayers that support the system and keep it funded and the taxpayers can no longer afford a system that rewards the few at the expense of the many.

I've posted this before. Take a look at why the taxes in the UCSD keep going up and up and why they are on the brink of insolvency:
http://www.uticaod.com/news/x231950137/New-Ut...

Sunday's OD had a front page story about the "perfect storm" that is the UCSD financial situation. Little or no mention of the legacy costs of retirees that is driving the increases but plenty of blame on the new charter school that will actually help some of the children. That says it all.
Truth

Utica, NY

#87 Mar 12, 2013
Critic wrote:
Blah, blah, blah. Please stop the envy. I used to teach and live in NY. I decided to teach way back when and did so for over 30 years. I didn't teach to get a pension, but it was part of the deal. I made the choice. YOU pension critics made YOUR choices. Live with YOUR choices and move on. Life is too short to envy and bitch about the choices YOU made, YOU are responsible for and YOU are sorry for. Learn and move on.
Your pension is paid for by taxpayers. I am a taxpayer. I did not choose to allow you the pension and benefits you recieve at my expense. That was done behind closed doors by boards of education more often than not staffed with people from the education profession and have no concept of what it's like in the private sector. Yes, you did agree to the deal but don't make the mistake of thinking that the public at large agreed to that deal.
you are right

United States

#88 Mar 12, 2013
They should go find the board members that promised them the pensions and get their money from them.
Truth wrote:
<quoted text>
Your pension is paid for by taxpayers. I am a taxpayer. I did not choose to allow you the pension and benefits you recieve at my expense. That was done behind closed doors by boards of education more often than not staffed with people from the education profession and have no concept of what it's like in the private sector. Yes, you did agree to the deal but don't make the mistake of thinking that the public at large agreed to that deal.

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