Writer inaccurate on teachers pensions

This letter is a response to Fence Post writer Al Palash. I believe he has need for a math refresher course or for injecting more accurate facts into his formulas.

His statement at the end that the teacher’s pensions are “underfunded” is accurate. The state of Illinois has been ignoring its own constitution by underfunding the pension program to the tune of $85 billion. The politicians have perpetrated this criminal action and then blame the victims, the public employees, for the problem. That is akin to the child who breaks a valuable vase blaming it on his brother.

As for his statement about the program being unsustainable, again this could use more research. If he would go to the TRS website he would find accurate information about its stability. An example of what you’ll find there:

타 TRS currently has about $34 billion in assets.

타 TRS will pay out $4.1 billion in pensions and benefits this year.

타 TRS received $6.8 billion in total revenue during fiscal year 2010, including $3.7 billion in investment income.

타 TRS has enough money on hand, and expects investment income in the future, to ensure that TRS will still be in business beyond 2018.

Palash’s statement about the pensions being “unjustified,” again I am concerned about his facts. The average teacher in this state receives $42,782 per year, and the teachers don’t get any Social Security. The average annual Social Security benefit, according to their own website, is $38,850. Wow! Do the math. The extra $3,932 per year is really exorbitant. Teachers must really be living it up on that.

Charles Peraino

Cary