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This is huge, and a lot of people don't know it. A guaranteed 7% a year. Double your money every ten years. Not sustainable.
No doubt. Historically fixed rate annuities avg @ 3.2%. A 7% guarantee is cray cray. Offer that to the public and the stock market would get crushed that day when investors flock to park their cash there. Nope, gotta have a badass union for that kind 'o perk.
Exactly....... Why is there such a race to the bottom? I don't get it. It's not a cushy job.
No it's actually a race to the top where certain collectively bargained compensation packages effectively help people climb the ladder by stepping on other people's heads.
No doubt. Historically fixed rate annuities avg @ 3.2%. A 7% guarantee is cray cray. Offer that to the public and the stock market would get crushed that day when investors flock to park their cash there. Nope, gotta have a badass union for that kind 'o perk.
That perk is offered to most of Albany also. If the investments don't make enough to cover the 7% NYC tax payers pick up the tab. If the fund does better NYC taxpayers keeps the extra $$. Albany gets 8.25% on the annuity. NYC teachers used to get that but the city scaled it back to 7. Some are still grandfathered in to 8.25%.
I joined this Forum over 10 years ago.
This topic seems to have been going on continuously for all of those 10 years. People complaining about teachers making too much money, having cushy jobs, spending summers on their yachts, buying million dollar houses, etc. For example, even at 150G a year, no one can afford a million dollar house. 500G house would be tough.
Is there anything NEW to say about this?
If the situation is so bad, pick up & move to a lower tax State. That's if you don't care about the quality of education your kids get. In most lower tax states, many people are forced to send their kids to private schools because the public education is so bad.
If this is such a bad situation, why does it continue to exist? School board members are elected. Get out and vote for members who will do things the way you want them done. Maybe this situation continues because the Majority prefers it this way. Or maybe the majority really does want what is being discussed here, but they are too lazy to vote?
Whatever it is, just how many more years will this same thread continue?
Getting real tired of hearing how great the education in this state is... we are consistently placed somewhere in the 20s out of 50 states in countless rankings for as long as I can rember. What we do rank #1 in is cost. The excuses need to stop before the music does and maybe things can be corrected over time.
As for board members - having sat in on these meetings, they are given bad or worse choices by the districts with little actual control and vote accordingly. At some point the state needs to step in, take control and fix the problems or at least the current laws that tie reformists hands.
I joined this Forum over 10 years ago.
This topic seems to have been going on continuously for all of those 10 years. People complaining about teachers making too much money, having cushy jobs, spending summers on their yachts, buying million dollar houses, etc. For example, even at 150G a year, no one can afford a million dollar house. 500G house would be tough.
Is there anything NEW to say about this?
If the situation is so bad, pick up & move to a lower tax State. That's if you don't care about the quality of education your kids get. In most lower tax states, many people are forced to send their kids to private schools because the public education is so bad.
If this is such a bad situation, why does it continue to exist? School board members are elected. Get out and vote for members who will do things the way you want them done. Maybe this situation continues because the Majority prefers it this way. Or maybe the majority really does want what is being discussed here, but they are too lazy to vote?
Whatever it is, just how many more years will this same thread continue?
Spot on..... Seems like the op wants Alabama style schools where teachers need food stamps.
No we want to have our children to be able to afford to live here.
No I want reasonableness in positions and frankly 150k for a GYM teacher is absurd for the same reason doctors who are general practitioners earn less than brain surgeons. Pay educators who teach math, science, English, social studies reasonable wages. Fluff educators not so much.
Finally compensation should be defined contribution not defined benefit, if not exclude overtime or coaching whatever is outside specific course schedule. Increase their contribution to healthcare and remove eliminate the mandate on return on teachers investments it is absurd
SHHHHHH.....let them continue their teacher salary whining. in a few days it'll switch back to police pay, optimum vs Fios , landscaper noise or the dreaded planes in the sky over the homes they bought near an airport.
Some folks are perpetually bewildered and/or upset by the planes heading towards an airport or a teacher having tenure or a cop earning more than they do. My favorites are the 'flee Long Island now' ones surely authored by some enterprising moving van company.
If the situation is so bad, pick up & move to a lower tax State. That's if you don't care about the quality of education your kids get. In most lower tax states, many people are forced to send their kids to private schools because the public education is so bad.
Ah, playbook answer #1.
I always like to show this link in response to show that NY spends far more per pupil than anyone else yet the schools are no better than most in the NE. Look at CT and MA in comparison.
Also, just like on LI, it varies by district elsewhere. I’d say that a “good” or better district in Florida, which spends half as much per pupil, blows away many LI districts.
You’d argue but look at Jericho...my response is that they spend $35K per pupil. And they aren’t even in the top 15 of spending.
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