Friday, January 1, 2010

62 pages of retired California teachers currently receiving over $100,000 a year in pension benefits

Found by Allena Hansen (PDF file). This gets back to what I said earlier: America will soon be divided into two classes... those who have government jobs/pensions and those who don't. Those who don't have government jobs will be bled dry to feed the government employees and their bloated, obscene pensions unless things change.


Anonymous said...

Where is John Edwards when we need him?

Any chance of the Democrats coming to the rescue of us humble working class, exploited by the ruling elite?

No, I suppose not.

I suppose these pensions also include Cadillac health care, and in case the Federal Reserve notes hit the inflation button, the pensions will go right along up, along up with working teachers, cops, firemen, staff, et al.

TCN said...

Hey Lou ... The Houston Municipal Employees Pension System is just as bad.

I ran a basic pension calculation on their website. Service = 30 yrs, Final pay as an active employee = $6,000 per month ...

The monthly pension for life is $5,791.50 per month. In short, 90% of pay!

Plus there is a 3% annual cost of living increase.

The basic pension calculation does not include additional credits for a variety of contractual items. So, it wouldn't be difficult to draw a pension of over 100% of pay!

Oh ... I almost forgot. They also have retiree health benefits.

Sweet! ... except for those who have to pay for this largesse. :-(

w said...

You are all so callous now, but these poor working class folks had to spend decades surviving on cat food, bathing with a hose, and working like slaves while you spent your umpteen long weekends at home with your buddies swapping hedge fund stories.

Seriously though, can you imagine the taxes these folks pay with no deductions or write offs. I wonder if these folks will become enraged when they find out they are going to be sharing their health care with everyone else now. That will be the end game as Calpers was pushing Congress to pass health care reform and take away their future unfunded obligation.

“Promised pensions and health benefits are vitally important to state workers and their families, especially public safety officers who put their lives on the line everyday. And they are obligations that must - and will - be paid by government. We must seek ways to meet these obligations while not harming other government programs and taxpayers or handing invoices to future generations.”

Governor Arnold Schwarzenegger

chickenlittle said...

The problem here is getting it right. There was a time not so long ago when teachers K-12 and even college professors were seriously underpaid wrt how much time and effort it took to get there. Now they seem to be overdoing it.

Happy New Year Lou!

Anonymous said...

$100K pensions?


This Blog Is Not Here said...

ChickenLittle is right. Not to long ago teachers really were underpaid. Salaries have come up a good bit but I am still earning about 1/3 of what I did in the private sector. Still, I'm not complaining. I love being able to be creative, hammy, and make a difference in some pretty rough kids lives.

If you compare relative pay between private and public sector teachers, private school teachers are paid maybe 1/2 of what public school teachers are. The main reason that is since they are teaching private, they have actual control of the classroom, the curriculum, and especially have an honest hand on discipline. Those things really don't exist in the public sector. Depending on how rough the school is, we can spend literally 15-20 minutes of the class period doing actually teaching with the rest being relegated to discipline issues and interruptions.

I found out that it does take a special person to want to go back into the school day after day. Mind you, I learned not to flinch when I see a knife or a group of rival gangs about to go at it. Sure, some of those kids we can't reach but there are enough that we can help get out of the poverty mindset and get the skills to get out and see what the world has to offer.

Bill in NC said...

All these folks, ALL of them, will be dumped onto the Pension Benefit Guaranty Corporation by 5 years from now.

Their benefits will be reduced to the maximum (currently $4,500) per month.

Chris said...

"All these folks, ALL of them, will be dumped onto the Pension Benefit Guaranty Corporation by 5 years from now."

You need to work on your research. The PBGC doesn't insure public pension plans -- only the private sector.

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