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My dad gets a private sector pension and he’s ten years past the age they calculated when they set the pension rates. He’s not the only one - people are routinely living into their 80s and even 90s now. And the boomer teachers are not done retiring - youngest boomers are 55.
The difference between your dad’s pension and teacher pensions when returns are low or actuarial tables are wrong - your dad would get a reduction in benefits, taxpayers make up the difference for the teachers.
The difference between your dad’s pension and teacher pensions when returns are low or actuarial tables are wrong - your dad would get a reduction in benefits, taxpayers make up the difference for the teachers.
Yes I know but that wasn't the point of my post. It was that payouts have gone on, and will continue to go on, much longer than anticipated. Someone who retires this year at age 55 could potentially collect a pension for as long or longer than they worked.
My father retired from his pension job at 56 - probably started collecting at 62. He worked there for 34 years and he's been collecting for 25 years.
Doesn't explain why it can't be phased out over time. And I'm not sure why you specify only current teachers putting into the system. How much are they putting in compared to the amount taxpayers are responsible for? Let them pay for it amongst themselves if they're so gung-ho about it.
I tell my kids often not to return to this place when they're done with school. I don't understand how living among a sea of thieves doesn't anger people. Many participate, while others think they make too much to care... a match made in heaven except this place looks & feels nothing like heaven.
I have read all your posts and you are spot on!!!!!
"Corruption" is the answer as to why we pay so much money in Property Taxes. I'll tell you something else too.
Many of these teachers got their job because they knew someone and had connections. (Nepotism). The schools are basically 1 big club and your not allowed to be a member unless you have connections. If schools eliminated pensions and lowered salaries I guarantee you there would still be thousands of highly qualified people applying for the teaching jobs and kids would probably get a better education. High school taxes does not equal better education and that has been a lie they been telling everyone for decades!
I have witnessed this myself as I know many highly qualified people who are very passionate about children
and teaching but have been rejected over and over again until they have to change their career.
And yes, Teacher salaries are outrageous !!!! How about the Superintendent salaries and the uncessessary
multiple Assistant Superintendent positions that many school districts employ? Schools districts are rotten to the core with Corruption and spend our hard earned taxpayer money like drunken sailors.
Yes I know but that wasn't the point of my post. It was that payouts have gone on, and will continue to go on, much longer than anticipated. Someone who retires this year at age 55 could potentially collect a pension for as long or longer than they worked.
My father retired from his pension job at 56 - probably started collecting at 62. He worked there for 34 years and he's been collecting for 25 years.
I wasn't contradicting you - you pointed out that the assumptions on which pensions were based years ago are wrong.
So if all those Tier 1, Tier 2 and Tier 3 teachers live into their 80's and 90's (presumably many leaving the state) then the NY taxpayer is going to be on the hook for the difference between what the calculations expected and the actual payouts.
There will be a big reckoning in the years to come.
"Corruption" is the answer as to why we pay so much money in Property Taxes.
I'll tell you something along those lines.
Back in the day, not so long ago, fear of The City was rife and built into many Long Islanders' character. The local GOP predominated as the majority party, and a Dem. didn't stand a chance in places like the TOH.
High taxes were welcomed as a way to keep property values up and people from the hated, feared New York City out. So a lot of tax gouging is deliberate.
It's similar in a way to doctors being told by the insurance companies and the AMA to raise their rates after the war. Insurance companies wanted to sell policies, so higher fees were encouraged. They knew people didn't want to pay big bucks out of pocket.
I'm a Southwesterner now, but the City-fearing population is the LI I grew up with. Now the tax situation is out of control, and there's really no way to force the toothpaste back into the tube.
Last edited by manekeniko; 11-29-2020 at 02:59 PM..
You know what else is more apparent to me as my kids get older is the handing out of higher grades, which in turn makes our schools appear "great". Even my kids make fun of all the extra credit work they're allowed to hand in. The teachers have an incentive to produce good grades. Whether it's the reputation that comes with it or the money they are receiving to continue their methods.
This is not the type of education I pay hard-earned money for. W T F. Go into the city and you'll get out-classed as far as kids' abilities go. They actually get challenged.
You know what else is more apparent to me as my kids get older is the handing out of higher grades, which in turn makes our schools appear "great". Even my kids make fun of all the extra credit work they're allowed to hand in. The teachers have an incentive to produce good grades. Whether it's the reputation that comes with it or the money they are receiving to continue their methods.
This is not the type of education I pay hard-earned money for. W T F. Go into the city and you'll get out-classed as far as kids' abilities go. They actually get challenged.
Absolutely.
It is shameful how grades for highschoolers are being pumped up to keep property value. I wasn't raised here in the US and find it hilarious how parents are so on top of highschool grades for greed and vanity.
It's disgusting really.
And the principals an superintendents know this is better for them too so they always favor any parent complaining about their kids' grades. Teachers have almost no say on this, or else...
You know what else is more apparent to me as my kids get older is the handing out of higher grades, which in turn makes our schools appear "great". Even my kids make fun of all the extra credit work they're allowed to hand in. The teachers have an incentive to produce good grades. Whether it's the reputation that comes with it or the money they are receiving to continue their methods.
This is not the type of education I pay hard-earned money for. W T F. Go into the city and you'll get out-classed as far as kids' abilities go. They actually get challenged.
WOW, we agree on something. This is so true. 3VSD did no favors to my kids. They were shocked their 1st year in college. Its definitely a joke what goes on to keep the SD's reputation.
You know what else is more apparent to me as my kids get older is the handing out of higher grades, which in turn makes our schools appear "great". Even my kids make fun of all the extra credit work they're allowed to hand in. The teachers have an incentive to produce good grades. Whether it's the reputation that comes with it or the money they are receiving to continue their methods.
This is not the type of education I pay hard-earned money for. W T F. Go into the city and you'll get out-classed as far as kids' abilities go. They actually get challenged.
That's why so many LI kids end up on the 5 year plan too. We have so many friends whose kids couldn't finish on time coming out of LI schools. They were totally overwhelmed when they got to college.
My one son was so far behind when we moved here after 3rd grade he honestly never caught up. His 3rd grade teacher was "reassigned" after that year, too late for us. Third is a critical grade.
The other thing you'll find with LIers is the pressure to go to private school. We got the list of kids who graduated when our oldest would have from GCHS. 275 grads. Five went to state schools. ONE went to community college. And I know many of those parents and many of them have regular middle class jobs. Not saying they don't make decent money but $55K a year for private school (and up) and they have 3 kids on average, it's just pure insanity. Most of the kids don't have a clue what they want to do with their lives either. I know people here who are making really good money, own their homes outright and tell their kids it's CC for two years then off to a state school. My boss had her daughter go to a state school, she wasn't doing well - made her leave and go to CC...she got a job and went to school nights and weekends and got her degree, then her master's. She goes "mom I'm doing so much better than people who paid for private college". Mom owns her primary residence and a beach house outright. Mom knows what she's doing.
My sister has 3 kids who went to state schools here in NC. One of them graduated EARLY. All of them had jobs BEFORE they graduated. Last one is moving out in a few months, less than a year after graduating college.
Last edited by twingles; 12-05-2020 at 07:19 AM..
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