re: 25% of the LA school budget goes to pensions.

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Nothing against him, but that is a ridiculous burden on taxpayers for what might be 70+ years.

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lucky for him it has a cost of living adjustment

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They aren’t paying 7.5% in Social Security, so it’s actually costing 853 million

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The vast majority aren’t going to get any Social Security money.

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work 6 months a year

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Where are these schools? I work 10 months per year.

my mother n law says thank you

Most ignorant post I have seen on here so i had to comment. It’s been 4 years for my wife and I couldn’t let her do it in public education any longer, she is switching to private. 80k a year wouldn’t be worth the crap they go through, much less the pennies they get.

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That’s not how it works. In essence, the amount paid in over a 40 year career would be used up in about 2 years give or take

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uh, teacher's money is invested for them. Just like any other retirement account. It doesn't go into the state budget. So 40+ years generates a shite ton of interest. It generally takes 12 years to withdraw just the money the retiree put in. On top of that is the states matching portion, with interest. The retirement fund currently has $27,191,000,000 in assets.

The budget shortfall comes from an estimate of everyone working 40 years and retiring at max benefits, for X number of years after. That doesn't happen.

When people die, they are only refunded the portion they paid. Not with interest. Many retire with less than max benefits. Some go back to work, which stops their benefit, and they begin paying again. So the debt is just worst case scenario, based on the legislature not giving the entire matching portion each year.

Find an investment calculator. Start with $600, and add $600 monthly (a teacher and states portion of an average salary today) over 40 years. Even at 6% over those 40 years, a teacher will have $1.2M in retirement benefits. And that keeps generating interest, even after they die.

Defined benefit plans can be a big burden on state governments. Anyone with a brain can understand that places a huge risk and an environment ripe for corruption on who gets to manage that retirement fund. However, there is also human capital risk on not providing guaranteed benefits. There are a lot of teachers married to a coach.

Ideally you want a hybrid benefits model, some defined contribution and some defined payment. This will attract and retain educators while also reducing financial risk to the state. Plenty of states across the country already have a similar model. My dad was one of those recipients but in the USDA.

Govt comp isn't some kind of easy discussion even though u may want it to be. I spent time measuring grain bins with my dad as a kid walking out acreage to make sure farmers weren't lying about their crops.

You want honest citizens to work government jobs and you have to pay them a decent wage with benefits. Otherwise you perpetuate the inefficiency and ineptitude of government officials.

It's fun to hate on the government but the more you crap on it the more you let corporations dictate policy. The more you let that happen the more we steer towards a corporatocracy... This inevitably leads to a banana republic.

You can still work for the government. Do a good job work your way up the ranks and influence budgetary policies and try to address inefficiencies.

TBH this is one of the most American things we can do. We should embrace our government employees. We should Shed light on those that are making positive impacts...

Doing so will help attract top talent that are the most intelligent and can get the most out of our dollars.

Why this is hard to understand is absurd to me. It is a matter of respect. I guess if our govt employees got New Iberia Haircuts and purchased F350s and setup their double-wides with year round Christmas lights selling oxy's they'd get more respect.

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Yep and plenty of good teachers have to invest their own money for resources because they take pride in their job and school funding is trash.

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This has always irked the hell out of me. As if a poor teacher is the only profession who has to invest their own money.

Almost everyone I know has to invest in their own careers. I’ve been in outside sales for 20yrs. Don’t get me started. I spend more a month than teachers do in a year and I don’t spend nearly as much as many others professions like carpenters, welders, electricians, loan officers, etc.

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When you allow your employees to retire at 42 (20 years), then take another job because they have lifetime benefits, then you get this. Work until you’re 52? Then you get benefits and 80% salary so you can go work at a private school and make another 80%,. Let’s not forget at 57, you get 100% of your salary, plus benefits for life, and you can still take another job if you want.

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This!! times a thousand. 50 year old's walking around with lifetime benefits. That's Bullsh$t.