If the state had made their contractually obligated contributions for the past 15 years, instead of robbing the system to put money elsewhere, it wouldn't be underfunded. In that regard, it is the state's fault and thus the state's (taxpayers) responsibility.

 

Every analysis shows that the full contibutions under 12 years of Democratic governors, and 4 years under a Republican governor under funded their share and then the recession hit with as much as a 30-40% loss in the stock market. When you have 70,000 active teachers paying in 12+% of their salary into the system while 50,000 retirees are drawing out roughly 75% of their highest years of earnings, it is blatantly obvious that the system is unsustainable. Mathematically it takes roughly 6 active members paying in to support one active retiree (if the fund has a zero percent return) without the net fund declining in assets. The Ky taxpayers cannot absorb the roller coaster pitfalls, nor do the teachers want to have to contribute more of their current income if future assumptions for required contributions dictate. It was wrong for each of our governors to allow the 16 years of legislators to kick the can down the road. I for one am proud of our current governor for insisting the unsustainable problem get solved. The media and KEA may portray him in as negative light as they can, and our AG may try his best to gain political votes by contributing nothing to the solution; but, there is courage to be scene when we have a legisture willing to absorb unfriendly fire to refuse to kick this can down the road until it implodes.

I believe, and again, not an expert on this, that the capping of sick days towards retirement is a major issue and can ultimately cost teachers thousands per year in retirement and salary.

 

However, I think their biggest point, and rightfully so I'll add, is the optics of attaching a 291 page bill that no one had read, and had had no actuarial review, to the back-end of a sewage bill at the 11th hour. That looks like the opposite of being "represented" by your Representatives.

 

There was a year or more of discussion, and the KEA and dems wouldn't budge. It HAD to get done. If nothing else, 27 years from now, there will not be an issue. It will not impact current teachers much. Anyone considering going into teaching has an option if they don't find the compensation interesting. If someone tells me they are going into teaching for the pay and retirement benefits, to put it mildly, I would question their sanity.

June, July, most of August, winter break which is 2 weeks for our district, spring break 1 week, 5-10 snow days (in Ohio which aren’t made up anymore) plus all of the Presidents Day style holidays.

 

I can’t be convinced that teachers have it bad. Sure, the retirement needs fixed but nobody was complaining about teaching before this week.

Who gets most of August? Many school systems have started by mid August which often means the teachers have reported the beginning of August for inservice days. Now depending on the school system the teachers come in on those snow days.

 

Most districts give a week or so off for Christmas depending on when it falls. Many get a fall break but in some cases the teachers are still required to be there part of the time. 3 days for Thanksgiving. Election Day but that depends once again on your district and if schools in your district are used as a poll. MLK day, Labor Day, Memorial Day and Spring Break. Now depending on where you teach and weather those days of spring break could be taken. Once again depending on how a few things play out whatever snow days you miss you end up making up.

 

Teachers were advocating (some might call it complaining) before this past week.

Every analysis shows that the full contibutions under 12 years of Democratic governors, and 4 years under a Republican governor under funded their share and then the recession hit with as much as a 30-40% loss in the stock market. When you have 70,000 active teachers paying in 12+% of their salary into the system while 50,000 retirees are drawing out roughly 75% of their highest years of earnings, it is blatantly obvious that the system is unsustainable. Mathematically it takes roughly 6 active members paying in to support one active retiree (if the fund has a zero percent return) without the net fund declining in assets. The Ky taxpayers cannot absorb the roller coaster pitfalls, nor do the teachers want to have to contribute more of their current income if future assumptions for required contributions dictate. It was wrong for each of our governors to allow the 16 years of legislators to kick the can down the road. I for one am proud of our current governor for insisting the unsustainable problem get solved. The media and KEA may portray him in as negative light as they can, and our AG may try his best to gain political votes by contributing nothing to the solution; but, there is courage to be scene when we have a legisture willing to absorb unfriendly fire to refuse to kick this can down the road until it implodes.

 

 

So we can discuss politics now. Because I would love to respond.

There was a year or more of discussion, and the KEA and dems wouldn't budge. It HAD to get done. If nothing else, 27 years from now, there will not be an issue. It will not impact current teachers much. Anyone considering going into teaching has an option if they don't find the compensation interesting. If someone tells me they are going into teaching for the pay and retirement benefits, to put it mildly, I would question their sanity.

 

Talks were not going very well, in fact, many citizens were told by their legislators that they would not vote for pension reform, which turned out to be an untruth.

 

27 years from now there is still a problem: nothing done fixed the 40 billion of unfunded liability.

 

It will impact current teachers.

2% of retirement costs will be placed on the district. Where does that money come from?

 

Schools’ allotment for subs will skyrocket since teachers will use their sick days. Where is that money coming from?

 

We do agree on one thing: If you are a freshman in college you need to change your major.

Covington schools will be providing lunch to those in need on Monday despite being closed.

 

At whose expense? Ockerman is asking for donations.

I see Politics so I am going to stop this thread.