Author Topic: Joy of six (figures): 738 NYC teachers getting $100G+ pensions  (Read 299 times)

Soul Crusher

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Joy of six (figures): 738 NYC teachers getting $100G+ pensions
« on: February 22, 2010, 05:20:01 AM »
Joy of six (figures): 738 NYC teachers getting $100G+ pensions
NY Post ^ | 2/21/10 | SUSAN EDELMAN and CYNTHIA R. FAGEN


Posted on Sunday, February 21, 2010 3:25:46 PM by jimbo123
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They get an "A" in reading, writing -- and retirement.

There are 738 educators collecting city pensions more than $100,000 -- and three make more than $200,000, records show.

The $100,000-plus club makes up 1 percent of about 70,000 retirees in the city Teachers Retirement System, which doled out $3.8 billion in benefits in 2009.

It's the costliest of the five pension systems that threaten to suck the city dry.

"All the pension funds are ticking time bombs," said E.J. McMahon, a senior fellow with the Manhattan Institute think tank.

And the problem could worsen with the teachers union demanding raises of 4 percent over both of the next two years. This would add $5,600 a year to salaries of teachers now earning $70,000 or more. For every $1 pay hike, pensions go up 60 cents.

A Post Freedom of Information request to the TRS produced the list of the 738 highest-paid retirees -- who pull in a total of $84 million a year.

The 738 is more than five times the 142 retirees with pensions over $100,000 in the city's largest pension fund, NYCERS, whose 130,000 pensioners include transit, sanitation and other workers.

Ten of the retired educators have collected the generous payouts for 19 years.


(Excerpt) Read more at nypost.com ...


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This whole thing is killing our private sector. 

SAMSON123

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Re: Joy of six (figures): 738 NYC teachers getting $100G+ pensions
« Reply #1 on: February 22, 2010, 08:33:25 AM »
You really interested in cutting waste of money...Cut your police off from the pensions they have. Few teachers retire when they are supposed to. The love of teaching keeps them in the school usually right up until death or health issues force them to retire. WHen they do retire teachers often do not live long afterwards to collect. Your scumbag cops however collect pensions often twice or more of their final salary as they have learned to play the game of doing overtime majorly the last two years of their service so they can retire with monstrous pensions. They also have a system where after 20 or 25 years they can retire, so effectively a person working for the police can start at 18 and retire at around 40 and collect a pension from then UNTIL THEY DIE!!!!. Let us not forget the fact that they also receive unbelievable benefits which they don't contribute to (that's left to the tax payers) that include everything from the best of health insurance, pensions, life insurance, loans, college funds, guarantees of police positions for their kids, lets not even go there with the abuse of DISABILITY amongst cops and firemen Which is out of control, collection of Social Security when they turn 65 (yes the greedy bastards make an issue of getting SS as well even though they are collecting this ridiculous pension) etc etc etc. Add to this the cost to cities for police cars, guns, bullets, lawyers, gasoline, maintenance, police stations, electricity, retirement parties, gifts, fire trucks, yadda yadda yadda and remember ALL OF THIS IS PAID FOR BY THE TAX PAYER...and unlike the teachers who produce children who go on to be doctors, lawyers, scientists, teachers, professors, engineers etc etc etc...what does the police produce?...not much of anything.
C

Soul Crusher

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Re: Joy of six (figures): 738 NYC teachers getting $100G+ pensions
« Reply #2 on: February 22, 2010, 08:37:41 AM »
SAMSON - have you ever heard me say one good thing about cops and their pay? 

They are the biggest thiefs on the planet in NYS. 


shootfighter1

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Re: Joy of six (figures): 738 NYC teachers getting $100G+ pensions
« Reply #3 on: February 22, 2010, 11:39:07 AM »
No one should be getting lofty pensions anymore.  A pension is fine but it should be a reasonable living wage.  People can add to it by contributing to an IRA and saving.
Legacy costs are killing the taxpayer.  High cost pensions and post work healthcare is what strong unions advocate and what is hurting us.