On Wednesday, October 26, 2011, public employee workers across the State joined forces at the “Stand Up For Workers” rally held at the State Capitol Rotunda in Springfield, Illinois.
The Number Crunchers witness the event first hand, and had the opportunity to discuss State pension reform with representatives from Bolingbrook’s police and firefighters’ union. Both unions attended the event to lend support to the State union employees.
Click to read more of the article and view the photo gallary: http://thenumbercrunchers-bolingbrook.com/communityforum.html
What are your views on the current State pension fund crisis?
Where do you stand in the debate?
Do you support or oppose the public worker protestors?
Share your comments.
Rhonda - the other side is that average social security is about $22,000 per yr. The average public worker makes far more than the average taxpayer (who is paying them). Social Security recipients cannot get their full benefits until age 67. Public employees can get their benefits at age 55. Public employees should have to wait to receive benefits just like social security recipients. Governor Brown in CA is changing this so government workers need to work until age 67 just like the taxpayers. You should describe the plan that Tom Cross proposes that the government employee can keep his/her current program but must contribute more for it or could choose a 401K type plan similar to what private sector workers have. Valley View teachers and administrators pay zero for their pensions as do half of all Illinois school districts. Illinois is broke and pension reform is needed but Quinn wants to borrow and tax more.
ReplyDeleteI understand the previous comment, however; police and fire employees pay in at a higher rate currently over 9%. The average worker pays 6.5% to Social Security and you have to ask yourself, when you call for police and fire in an emergency situation, do you really want a 67 year old police officer or fire fighter responding to your call? Lastly, most of the police and fire pensions are funded and not in trouble, why, because the money has been managed locally and not accessable to the politicians in Springfield who would gladly borrow the money, which is what has happened to the teachers union. Easy to blame the workers here but remember they have played by the rules forever, guess who hasn't, your elected officials. So rather than blame the workers lets vote out the bums in Springfield who continue to screw it up!!!
ReplyDeleteI appreciate the passion of those at the "Stand for Workers" rally, but let's get real.
ReplyDeleteWho put the legislators and governors who raided the pension funds in office?
Who lines up to vote the way their union leaders tell them to?
Who believes and doesn't challenge the outrageous pension spiking schemes that are major contributing factors to the underfunded state pension system?
Talking honestly about the fiscal challenges facing the state pension system is not attacking workers. It's the right thing to do. We all have a vested interest in preserving the fiscal health of the state.
Anonymous @ 11:50
ReplyDelete"For 2011, the maximum taxable earnings amount for Social Security is $106,800. The Social Security tax (OASDI) rate for wages paid in 2011 is 4.2 percent for employees "
For VVSD teachers, they have 9.4% of their salary is deducted for TRS.
To be clear, I know there are many public sector employees who do want fiscal sanity and who don't line up and vote the way their union leaders tell them to.
ReplyDeleteI know that they can't be as vocal as those at the rally for obvious reasons.
Pension reform is needed so the entire state isn't driven off a financial cliff.
Valley View teachers do NOT pay their legally mandated pension contribution. VVSD taxpayers do.
ReplyDeleteSee the Illinois Policy Institute Report: Teacher Pensions Who's Really Paying? http://illinoispolicy.org/uploads/files/teacherpensions10-13.pdf (and my Number Crunchers article: Why Don't Valley View Teachers Pay Their Share of Pension Contributions?)
VVSD taxpayers pay the entire teacher's pension contribution, all 9.4%, as part of an added benefit. Just another dirty little secret the union leadership doesn't want taxpayers to know.
Illinois Policy Institute estimated that in 2010, just one year, $8.4 million, was paid by district taxpayers on behalf of the teacher portion of pension contributions.
Explain why 9.4% of their salary is deducted from their paycheck every 2 weeks for TRS.
ReplyDeleteCedra, perhaps I can clear up this "misunderstanding" you seem to have with regards to the teachers and VVSD paying into the pensions system.
ReplyDeleteThe money is deducted from the employees paychecks every week or two weeks, whatever their payroll schedule dictates. Just like all other deductions, such as child support payments, state taxes, federal taxes, healthcare insurance etc.... VVSD being the employer, they then direct ALL of the deductions to the proper places.
When you look at the A/P portion of the financials for the VVSD, I will bet you never see every teachers name listed as making a payment. I'm sure all you will see is a lump sum payment for ALL of the teachers who ALL pay into their retirement plan.
And you call yourself an accountant? Geez, doesn't take a rocket scientist to figure that out.
Go to the VVSD website and check the VVSD Annual Financial report for 2010. Scroll down until you get to the section regarding pensions. This will give you a better idea of how pensions are funded and will show you how VVSD makes the pension payments.
ReplyDeleteCedra, you need to do a better job of reporting. If you would actually look for the information instead of relying on Tea Bagger information you would have more credibility.
The Lone Ranger
Anonymous 10:36am, and Lone Ranger:
ReplyDeleteFirst of all, we want to thank you for contributing to the debate.
According to your comments, you do not agree with Cedra's assertion that VVSD taxpayers are funding teachers' pension at 100%. Despite the proof provided by IPI and TRS.
It's misleading, and too much work, to route visitors to a financial report on the VVSD website.
The most simplest route would be to contact any of the "Friends of Valley View" (school board members) or AFT 604, directly.
Simply ask them whether it's fact or fiction.
To address your concerns, The Number Crunchers' will be doing a follow-up investigation on the teachers pension contributions.
Lets see if a second set of eyes will come to the same conclusion.
Stay tuned.