Thursday, January 28, 2010

calSTRS in a $42.6 Billion Black Hole

The California State Teachers' Retirement System (yes, the system I personally paid 10% of my paychecks into for 4 years) is severely underfunded and ready to start begging lobbying for more contributions in Sacramento.  The $131 billion dollar fund is estimated to be decimated by 2045, aka the point in my life where these funds will be needed most, unless increases in contributions are designated.  This means teachers, both current and former, will be coming after legislatures to propose increases in educational taxation.

Says one comment writer: "I believe it is factually historically true that the Teacher’s pension benefits were literally tripled instantly by Governor Gray Davis (and the Democrat legislature) immediately after the Teachers Union made a $100,000,000 campaign contribution to Davis’ re-election campaign priot to the (stupid as Hell) Recall of Governor Davis, eight years ago.  This was just a political favor payment in exchange for a cash bribe. It certainly was in no way justified compensation for government school's Union Teacher performance.  I’d say that a quick and easy fix for this Teacher pension problem would be to give the Teachers Union their $100,000,000 back and cut the Teacher’s pension benefits back down to the pre-bribe levels (which their pension benefits funds could no doubt easily support).
Oh, and aside from the $45 Billion savings, there would be absolutely ZERO other effects from this action.
NOT ONE “teacher” would quite their job, nor would any of them “teach” less effectively, etc. it is just that all this phony Leftist political indoctrination of kids scandal would cost less.
Actually, the schools might even improve because the teachers might realize after one step in the right direction might lead to further actions to actually get something of value for the money we waste on the government schools."

While this comment doesn't take a lot of aspects of the teaching profession into consideration - it does bring up some excellent points, shady deals are behind these massive pension funds, and tax payers should be aware of the behind the scenes skullduggery.

No comments: