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Kentucky passed Repub version of pension reform: The state will now keep 15% of any investment gains

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Maxima1

Diamond Member
Jan 15, 2013
3,274
640
126
A huge part of the problem is states have negotiated huge future benefits to help justify crappy current pay and benefits. Unions have accepted that, even though it is obviously not sustainable.
The unions and pols want a lot at of it at the back because then it's less transparent. There's other ways they try to hide it as well e.g. "disability" system, spiking your best years for retirement, etc. Teachers are already comparable to a lot of bachelor holding professions at ~$56-58k per year (2016), which doesn't factor in the lower hours/days worked in comparison to typical private sector work. I suspect that they also would look more favorable due to the likelihood of being located in a lower cost of living area in general as well. Moreover, that "crappy" pay means that you don't have to save as much as others, since teacher pension is better than the SS payments for the majority of Americans.
 

SMOGZINN

Lifer
Jun 17, 2005
13,123
2,707
136
I actually agree with ending the use of accrued sick days in factoring retirement dates :eek:
I think it is short sighted. It just means that people will start to aggressively use their accrued sick leave when they are coming close to retirement.
 

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