March 30, 20188 yr Thanks. Outside of the 35 years of service increase, I don't see anything in there that is going to negatively impact teachers or their retirement. It doesn't appear to affect current teachers that significantly, except for the cap on their sick days, which to someone in the private sector seems reasonable. It doesn't do much to help the pension deficit either.
March 30, 20188 yr It doesn't appear to affect current teachers that significantly, except for the cap on their sick days, which to someone in the private sector seems reasonable. It doesn't do much to help the pension deficit either. With the sick days, is it currently if you don't use them, you can roll them into your retirement?
March 30, 20188 yr With the sick days, is it currently if you don't use them, you can roll them into your retirement? You can roll 30% into retirement.
March 30, 20188 yr With the sick days, is it currently if you don't use them, you can roll them into your retirement? I believe so. When my mother in law retired from teaching, she got a five figure check for the sick days she had accumulated.
March 30, 20188 yr You can roll 30% into retirement. Thanks. That seems crazy. How do I get that option added to my retirement? I never take sick days. :lol2:
March 30, 20188 yr You can roll 30% into retirement. Can you do that anywhere else? I have a lot of friends that are teachers that are very upset over this.
March 30, 20188 yr It doesn't appear to affect current teachers that significantly, except for the cap on their sick days, which to someone in the private sector seems reasonable. It doesn't do much to help the pension deficit either. In this whirlwind, I think I saw it would only move the 40 billion needle 3 billion. Not even mentioning the strain this will put on districts with them having to pick up 2% of the hybrid plan for new hires. Still not sure how they are going to keep teachers from using a majority of their sick days.
March 30, 20188 yr Can you do that anywhere else? I have a lot of friends that are teachers that are very upset over this. I've never heard of it, but I've only dealt with 401(k) & DC plans. Maybe it's standard practice for pension or DB plans?
March 30, 20188 yr Can you do that anywhere else? I have a lot of friends that are teachers that are very upset over this. Not sure. I'm sure cashing it out means Uncle Sam will get a nice chunk. It just means I'll be working 8-10 fewer days a year now. :lol2:
March 30, 20188 yr I've never heard of it, but I've only dealt with 401(k) & DC plans. Maybe it's standard practice for pension or DB plans? It's meant to motivate teachers to be there as many days as possible. A teacher misses 12 days and 30-175 students miss 12 days of instruction.
March 30, 20188 yr Thanks. Outside of the 35 years of service increase, I don't see anything in there that is going to negatively impact teachers or their retirement. Still going through this but here’s what I’m seeing so far: - End of accumulated sick leave, which was a big way to boost retirement packages - End of cost of living adjustments for new hires into the system beginning in 2019 - End of State life insurance benefit for retirees beginning in 2019 - End of death benefit for retired teachers retroactive to teachers who retired in 2014 or layer
March 30, 20188 yr It's meant to motivate teachers to be there as many days as possible. A teacher misses 12 days and 30-175 students miss 12 days of instruction. So is this really going to cause the majority of teachers to take all of their allotted sick time? I get no benefit to not using my sick time, but I never use it regardless. Why would teachers be different?
March 30, 20188 yr So is this really going to cause the majority of teachers to take all of their allotted sick time? I get no benefit to not using my sick time, but I never use it regardless. Why would teachers be different? They won't be. Just gonna be hard to get teachers when you can get the same thing in the private sector. And to be clear the 30% is paid by districts not the state. The state just allowed the money to be rolled into retirement. Districts have a new problem.
March 30, 20188 yr Teachers and their spouses also cannot collect Social Security when they retire, which plays into the sick day payout. Another thing this bill did is remove the death benefit for hazardous duty employees (fire fighters, police, etc).
March 30, 20188 yr Another thing this bill did is remove the death benefit for hazardous duty employees (fire fighters, police, etc). That's beyond dumb IMO.
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