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| Subject: Re: California vs Texas | Date: 2/13/2013 7:57 PM | |
| Author: 2828 | Number: 671481 of 682662 | |
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You can find the same exotic stories about large pensions in Illinois that you do in California; but it seems to me the pension for rank-and-file teachers is not overly generous, considering that they pay 9.5% of their salary into the pension fund, while the state is supposed to fund less than 10% of that amount and then doesn’t even manage to do that. Putting the teachers on Social Security would cost the state a lot more (6.2% in matching funds). -------------------------------------------------- I would agree that Illinois is the dumbest. California at least made minor reforms to their pensions, to date i don't think Illinois has done a damn thing. I quoted the above because it says teachers pay 9.5% of their salaries inot a pension fund, this is mostly untrue, in most situations the taxpayer kicks in the teachers portion.......and then the government wastes it on buying votes with the tax payers own money. |
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