obviously we are coming up with the money to pay teachers.
http://www.championnews.net/2011/12/12/top-100-teacher-salaries-for-2011-phys-ed-teacher-heads-list-with-203154/
Should public employees who average a mere 32 years of 9 month work retire at an average age of 57 with an average payout of $3.7 million?
On average, these people will receive their entire contribution back in less than 20 months.
Notice several things about this list:
1. The years actually worked in IL, boots on the ground, only averages
32 years as compared to leaving college, working 40 years and retiring at age 62 with a maximum $22,000 Social Security pension. That is not even mentioning the fact that these multi-millionaires only worked 9 months a year for those brief 32 years.
2. The sick leave column shows how teachers accumulate sick-leave years and use them as actual work years. This taxpayer scam adds up to about 157,000 years – see here.
3. The “School ERO Contrib” column shows the amounts local taxpayers pay to allow the teacher to retire on full pension before she is eligible. Note number 19, Ms. Karen Koval, a dance teacher, received a taxpayer funded $188,837 so she could retire early. That is in addition to her salary of $165,888 for a taxpayer total of $354,725 which
allows a dance teacher to retire with a pension that will payout $3.4 million over her expected lifetime.
4. The last column shows two teachers (numbers 9 and 10) with amounts in the “School Excess Sick Leave Contrib.” Column. This is paid by the taxpayers for sick-leave days GIVEN to the teacher as part of the contract. Because that increase pension costs for absolutely no reason the local taxpayer must send money to TRS to partially (not fully) cover the ensuing pension costs.
the data above are the worst case scenario's for effect, but still, very interesting. some of the numbers are wrong such as adding a retirement payout to a salary and extrapolating that. so that one is bad math. we had several people in our county do this. to save money, it would seem senority is upside down. the people who need it the most get fired first. all of this is set up by unions electing representatives who represent them rather than a balance between the taxpayer who is making less and less with less benefits and retirement than government employees.
on the other hand, some things are changing where unions are giving up small reductions in pensions, increasing contributions, paying more for health care, but they have a ways to go to equal people with the same years school, sometimes more who have less retirement options. it didn't used to be that way, but slowly, things have turned upside down.
