LIPTON BASH

Noone is devaluing there knowledge but acting like a teacher could walk into other fields without proper training or experience devalues other career choices. Teaching would not prepare you for my field. I've never criticized teachers knowledge, ability or them as individuals. My points were simple . 1. You can't compare teachers to other professions because what they do on daily, responsibilties are different. Also the incentive of the organzation they work for differ from for profit organzation. 2. Benefits have changed dramatically across the private sector the last 20 years. It is just catching up to the public sector. A major factor is something none of us can control and that is how drastically life expectancy has changed.

Double post

Yes. I'm sure teachers with proper training could excel in other jobs. But the only job I think correlates in most corporations I deal with would be Learning and Devolpment or trainers. A lot of former teachers are in those roles across corporate America.

Like I said I'm for it . But let's not act like the median income that travels to Vegas is the same as those in downtown Cincy going daily.

A 457b is used at most health systems for Doctors and other highly skilled health care professionals. Does the KY system offer a Deferred Comp option like Ohio?

457b non govermental plans are for private tax exempt organzations. Highly compensated employees is defined by 125k the last time i checked IRS guidelines so it can include a larger pool than you think with some companies.

Also pensions going broke in the private sector happens. It happened to Delta and Delphi , now where it stinks is state pensions do not have the PBGC. But no one is talking about taking away pensions accumlated. The only thing I've mentioned is changing the plan for future teachers or those with a few years of service. Which again is how it has worked in the private sector for the last 20 years.

I would think a teacher would need patience and the ability to relay information to large groups of people. Retain knowledge in the discipline they teach and a sense of compassion.

This example is a false equivalancy again with a 401k and defined benefit plan. A 401k is owned by individual and a DB plan is group plan. It is another reason why state employees should want a DC plan there is more control. An employer has no discretionary control over assets in a 401k plan. The employer can't touch assets once in the account, they can only stop their contributions. A 401k can't be touched by creditors. Also the "promise" you speak of happens in the private sector happens in the in Deferred Compensation plans in 457b and other non-qualifed plans. Employees defer salary to a later date but if the company is not solvent they never see those funds.

It's just a false comparison. If you work in the private sector you are normally working for a for profit organzation incentivizing certain positions to increase profits. If you work in the public sector you should always expect lower pay because the incentive isn't profitability. If teaching is what you love I commend you and wish you a happy and fruitful life. But benefits and pay have changed and be revamped in most sectors in the last 10-20 years. This isn't new it is just hitting teachers later than the private sector.

My point is one can respect what teachers do as I do most proffessions , without the hyberbole of making it sound like brain surgery.

They allow zone but not in the traditional sense.

I don't know what you do for a living. So maybe teaching is harder than your job.

Again the false comparisons need to stop. The only skill set or job in the private sector to compare to is private school teachers. On average public school teachers make more.

I love teachers and what they do. But i'm sorry the exaggeration needs to stop.

I'm going to say what is unpopular but teachers are not some class we can't replace. Don't teach come to the private sector and compete see the difference. Let's go.

This is the most common practice in the private sector..

Not fully funded I believe but there is more strenuous test private pensions have and protected by the PBGC.

I'm fine with keeping those who have substantial years or close to retirement on course with current plan. But those with substantial time left until retirement put a lump sum in a defined contribution and move those teachers in a different direction.

I mean they aren't kicking kicking the can down the road if it is relieving current budget constraints.

Like I said state has and should make concessions. But teachers need to as well. Even more so newly employed ones.

As I read it , it also spreads the liability out giving short term relief on budgets. No different than refinancing your house.

Which again is the government holding itself to less restrictions than the private sector. Which is where the anger should be directed.

It is not the tax payers liability. It is the liability of the corrupt leaders. The people have every right to redo its agreement with teachers pension because of mistakes of past leadership. Let me ask you this how is it sustainable if someone retires at lets say 57 and average life expectancy falls somewhere in the mid to late 80s now. So I work 30 years and collect a pension for 30 years. There is reason why the most profitable companies in the world do not offer them any more. It is a huge liability on the books.

Is there a link to the actual analysis and calculation on these projections ?