The state teachers union is rejecting most of the final recommendations of the special pension commission, particularly its proposal to shift half the funding of pensions onto county school boards or governments. In a strong letter to the governor and legislative leaders, the union also wants county governments to be forced to fully fund school budgets and to give them authority to raise more taxes or disregard local tax caps.
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Yeah, and people in he!! want icewater
ReplyDeleteThis is a commitment the STATE made that the STATE needs to keep. The counties can't afford it. And it's not like the state teachers' pension is some gold-plated affair, either. It's no much better than traditional pensions from corporations. The state made teachers a promise, and the state needs to keep it!
ReplyDeleteAs the saying goes, you can't get blood out of a turnip. The county is also tapped out of revenue. For the state to try to put this burden on the county is unconscionable. The money isn't there. I can see why that state wants to do it. Montgomery County, for example, pays its teachers a whole lot more than Wicomico or Somerset. Since the amount of a teacher's pension is tied to his/her salary, then the state has to fork over a lot more to Montgomery. Still, the counties are all broke, too.
ReplyDeleteState can't afford it either. Just like non-public pension plans are being revised to bee in line with reality, public ones need to as well. Anyone who doesn't like it should show the State their backside as they walk out going to a better job.
ReplyDelete9:36
ReplyDeletethe state made promises it cannot keep. we don't have the money and we cannot borrow anymore. it is time to understand that or there will be nothing at all.
Just give me back the 5% I have been giving the State Pension System over the years and let me invest it on my own. By the way it now going up to 7% this year and the system is still broke. I also invest in a 403B for retirement because you can't depend on a pension and Social Security to see you through retirement. Soon I plan start a Roth IRA. You need to save a lot on your own and diversify.
ReplyDelete10:48 - Good for you, looking out for yourself. If you find a way to get your money back let us all know so we can start working on the Social Security government has stolen from us.
ReplyDeleteIf you're in a union, get it from the union. Isn't that what you paid all those dues for? Ask those Super Fresh employee's what their union did for them.
ReplyDeleteWonder if they got the bad taste out of their mouths yet.