Vote out lawmakers to fix pension problem
Why are you attacking the teachers' benefits? Teachers have not caused the financial problems with the state of Illinois. The Illinois Legislature is the cause.
The legislature is concerned with just a couple of factors, mainly gaming the system and re-election. The start to fixing the problem is with us, the voters. If the voters continue to sit on their hands and not remove the problem, then you can only blame the voters.
Teachers are charged with educating some of the most important people in our society, our children. To read Mr. Bill Zettler of Prospect Heights comments, he would characterize teachers as common criminals. He misses several points,
It would cost more if teachers were covered under Social Security. Teachers have worked for and earned their benefits, some for decades. Private sector pensions and private companies paying into 401(k) plans are passing the costs along to the customers. Is that wrong?
Teachers pay 9.4 percent of pay to Teachers Retirement System. The School District pays .58 percent. If these teachers were under Social Security the school district would pay over 6 percent. The state pays an amount determined by an actuary.
the state haven't kept these payments current or there would not be a problem now. The state has failed in its duty to pay this and other bills for some time.
In the article you mentioned a couple that had spent only 7 years saving 40 percent of their income for retirement. Seven years is hardly a responsible comparison with people that save over 9 percent of their income every paycheck.
Instead of attacking a group of people giving their all for our children, let's go after the real problem. November is coming.
Thomas W. Duffy
Hoffman Estates