Monday, March 07, 2011

Not Quite the Whole "Retirement" Story

Something's missing here.

...many teachers nearing retirement age are putting in their papers.

For school districts, a glut of retiring teachers is a double-edged sword, because while schools can avoid layoffs by simply not filling positions vacated by retirees, the districts are also stuck with paying for retirements and other post-employment benefits (OPEB) guaranteed under current contracts. If the governor's budget bills pass, schools will have much less funding to cover those costs, but they will still pay for the previously negotiated retirement packages guaranteed to teachers.


What about the fact that the remaining faculty is paid less than near-retirement veterans? (Or aren't they?) And if the Districts have to hire new teachers, won't they be paid less?

Meantime, the Districts are still taking in the same prop-tax dollars as last year, right?

Where's all that money going?


Grim said...

I don't know how it works with ya'll, but here in Georgia we have what we call the 49%ers. These are "retired" teachers who teach 49% of their previous un-retired hours. In return they get their full retirement pay and benefits, plus 49% of their standard pay.

Which, since they were topped-out on salary, means that we're paying nearly half the topped-out salary in addition to full retirement. For the same price we could hire a full-time younger teacher; but these folks have seniority.

Anonymous said...

The older generation is screwing the younger generation and all with the blessing of govmint....
Buy more Ammo!