Timmy Robbing From The Teachers

[Manonthestreet]

The teachers’ long-simmering rage about Minnesota’s two-tiered teacher pension plan—in which teachers hired in 1989 or later get much smaller retirement payments than teachers hired before 1989—was reaching a boil. Many “Tier 2” teachers, hired after 1989, felt they were effectively subsidizing the lavish benefits of their older “Tier 1” counterparts, while their own retirement payouts would be much smaller. Even worse, they feared the chronically underfunded pension fund might not be able to afford their reduced retirement benefits when it came time for them to exit the workforce. These fears were compounded by what the teachers said was Minnesota’s “demonstrated lack of transparency” and history of presenting the public with misinformation about the pension. How Walz ignored furious teachers, worked to squash probe of 'corrupt' pension plan
If the teachers pension blows up there is nobody to blame except Libs. Wonder if this would shift state politics. I am disappointed Repubs haven't been all over this demanding answers

 

[Admiral Rockwell Tory]

The teachers’ long-simmering rage about Minnesota’s two-tiered teacher pension plan—in which teachers hired in 1989 or later get much smaller retirement payments than teachers hired before 1989—was reaching a boil. Many “Tier 2” teachers, hired after 1989, felt they were effectively subsidizing the lavish benefits of their older “Tier 1” counterparts, while their own retirement payouts would be much smaller. Even worse, they feared the chronically underfunded pension fund might not be able to afford their reduced retirement benefits when it came time for them to exit the workforce. These fears were compounded by what the teachers said was Minnesota’s “demonstrated lack of transparency” and history of presenting the public with misinformation about the pension. How Walz ignored furious teachers, worked to squash probe of 'corrupt' pension plan
If the teachers pension blows up there is nobody to blame except Libs. Wonder if this would shift state politics. I am disappointed Repubs haven't been all over this demanding answers

The year 1989 was 35 years ago. Almost every one of those Tier 1 teachers have retired along with a good portion of the Tier 2 teachers. Why is this even a concern? This ancient history!

I retired from teaching in Kentucky in 2018 because they were attempting to change the teacher retirement system under a Republican governor and state legislature. Fortunately, they failed, and the teachers ran over their ass running as Democrats in the next election. In Florida, they created a new retirement system in the state for teachers but gave existing teachers the option of remaining under the old system, so I was grandfathered to the old way and still get my retirement under that program. That was also under a Republican governor, Jeb Bush, and a Republican legislature in the early 2000s.