How do cuts hurt?
I'm curious if there are teachers out there who would like to share who these budget cuts are affecting them.
Or if you own a business that sees a lot of teachers and school system employees how is impacting you?
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Comments (3)
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School system employees are used to generous raises and most have no idea how the of people live. Paying twice a month instead of once a month would make their pay go further. The School System retirement is the 2nd best in the country. A typical teacher that retires get about $33k pension plus $17k Social Security plus free Health Ins for life. They have a good thing going. Not many people have a better deal. We have teachers that make over 70k and dozens of Principals that make more than 100k. Our starting teachers make more than any other system in NC pays. Our teachers are doing ok.
Posted on May 19, 2009 3:24 PM
Whoa! A tiny fraction of Triad teachers are making anything like $70K. If they are, it's after 25 or 30 years of hard work, plus probably a Master's degree or better, and possibly National Boards accrediting.
As for the retirement: no way. TIAA-CREF beats the state system hands down, but you can't transfer funds. The expense fees for the available funds are way too high. They don't even have enough index fund choices, as of my last check of it. Nationwide, the retirement 401(k) system for educators tend to be rife with graft and mismanagement, with little freedom for the teachers enrolled.
I can only hope the pension you mention, which I am not sure exactly comes to $33K, especially since cuts in pay will mean it is figured from a lower base salary going forward,
hasn't been fritted away by the trustees in stupid risky investments.
And say goodbye to the "free" Blue (double) Cross. Premiums are now shared by ciurrent employees, so I doubt retirees will get off the hook. And deductibles went up 30%.
Yeah, teachers here got it good.
Posted on May 22, 2009 10:38 AM
Whoa! A tiny fraction of Triad teachers are making anything like $70K. If they are, it's after 25 or 30 years of hard work, plus probably a Master's degree or better, and possibly National Boards accrediting.
As for the retirement: no way. TIAA-CREF beats the state system hands down, but you can't transfer funds. The expense fees for the available funds are way too high. They don't even have enough index fund choices, as of my last check of it. Nationwide, the retirement 401(k) system for educators tend to be rife with graft and mismanagement, with little freedom for the teachers enrolled.
I can only hope the pension you mention, which I am not sure exactly comes to $33K, especially since cuts in pay will mean it is figured from a lower base salary going forward,
hasn't been frittered away by the trustees in stupid risky investments.
And say goodbye to the "free" Blue (double) Cross. Premiums are now shared by ciurrent employees, so I doubt retirees will get off the hook. And deductibles went up 30%.
Yeah, teachers here got it good.
Posted on May 22, 2009 10:38 AM