You will perhaps remember my writing that when a Governor presents his education budget it comes in three parts:
- higher education
- k-12
- pensions
In the 1990’s (at least) the IFT (Illinois Federation of Teachers) and IEA (Illinois Education Association) lobbyists went to legislative leaders and asked that their pension money be put into state aid to education.
The result was
- their pension funds got short changed
- teacher salaries went up more than would have otherwise
- future pension obligations increased with the increased salaries
Of course, legislators had to be complicit, but what the heck, most knew they wouldn’t be in office when the bill came due.
And, they aren’t.
There is only one solution.
Divert all funding necessary to catch up fully funding pensions under realistic return assumptions.
Cease all hiring.
Retain only personnel affordable at salaries and pensions required by law.
Here are witness slips from the 2005 ‘pension reform’ that shorted pensions.
It coraborates Cal’s statement.
http://www.allenskillicorn.com/2482/whos-really-to-blame-for-illinois-pension-mess/
Until enough taxpayers start demanding an end to public sector work stoppages, teachers will continue to hold your children hostage!
As long as voters continue to place family and friends of teachers on school boards, the teachers will continue to control salary negotiations.
Just look at the worst performing district in the County, Harvard D-50.
Richard Crosby is on the D-50 school board as the elected Secretary.
Between him and his spouse, they pulled in $244,837.32 in pensions (courtesy of the taxpayers) as retired School Superintendents.
Do you really believe he will represent the taxpayers.
“Between him and his spouse, they pulled in $244,837.32 in pensions (courtesy of the taxpayers) as retired School Superintendents.”
Wow. Wow.
The median income is under 52,000.
These guys are making more than double that in retirement.