Discussion in 'Economy' started by KissMy, Apr 13, 2010.
3,090 retired California educators take home $100,000-plus pensions
And some school districts are considering shortening the school week for kids to pay for this.
The OP is very misleading, and unfortunately, anti-teacher.
It should read RETIRED SCHOOL ADMINISTRATORS collect $200K+ from Gov't Pensions.
There's a HUGE fucking pay difference between administrators and teachers.
Also, Gov't Pensions are often paid at 100% after 21 years.
This means a 21 year old 2nd LT at age 42 would retire from the Army (probably as a Lt. Col, and then could retire AGAIN after 21 years in education as a principal (at age 63).
Frankly, after 42 years of public service, I'm pleased that these people can retire with $200K/year retirement income. THEY DESERVE IT. On the other hand, how many Wall Street Bonii were paid over $200K this past year?
No, they don't deserve it. That amount of retirement is the equivalent of having $5M in retirement savings. No comparable jobs in the private sector amass that amount of wealth - for public employees to do so is rapacious.
What compares in the private sector with being an army officer for 21 years?
What compares in the private sector to being a middle school principal?
I am not anti teacher. My beef is with the tax payers backing pension funds. These pension funds invested in subprime loans, lost their ass & now still pay-out millions to state workers. What about my retirement? Who is backing my loss? The best the average citizen gets is an $100k FDIC bank account.
Clinton & a bi-partisan congress took away the barriers preventing government backed money from risky & junk bonds so it could be lent to subprime borrowers to further his affirmative action housing agenda. Now the government employees get bailed out & the average citizen is left holding the bag.
If you weren't anti-teacher, then you should have been more honest in the thread's title.
TEACHERS don't retire to $200K/yr salaries
All you are doing is disparaging teachers, who deserve the salaries with which they retire.
As much as I respect military service, someone retiring in his 40s can still have a career doing something else. There should be a reasonable pension for those 21 years of service - $200K sounds excessive to me.
That's a management job. Period. Such public employees should be under the same SS and 401K system as the private sector.
So one guy makes over 200,000? Your title is misleading.
A management job....like, who in the private sector?
At any rate, the $200K/year isn't after JUST 21 years. the military retiree might receive 100% of his salary after 21 years of service. Say $50K/year. THEN he can get a job as a school administrator. Say $60K/year. Then he can work 21 years and RETIRE AGAIN with $50K + $150K/year = $200K/year
And it certainly isn't as if he sat on his ass, playing the market for it.
Separate names with a comma.