Teachers don’t have safety net

Discussion

March 10, 2010

Anonymous The Commercial-News Wed Mar 10, 2010, 08:15 PM CST

Editor:

Instead of Social Security, teachers and administrators receive a pension through the Illinois Teachers’ Retirement System, established by the state in 1939.

Instead of paying 6.2 percent of salary into Social Security, a teacher pays 9.4 percent of salary each year of service into TRS to help fund a future pension.

Employers (school districts) pay 0.58 percent of each employee’s salary each year, rather than the 6.2 percent that would be required if under Social Security.

So that means the school districts have more money for students while taxpayers pay less.

When TRS was established, the state agreed to make yearly contributions to the system.

Since that first fiscal year (1940), the teachers and districts have paid 100 percent of their obligation each year.

During this same period, the state has rarely paid its obligation every year.

What happens if you do not pay your credit card bill? Interest is added and the bill rises. The state did the same and now faces a huge bill.

The next time someone says teachers should not have a pension, please remind them that teachers do not get Social Security and that they make yearly payments to help fund their own pensions.

Shirley R. Barrette

Alvin

Text Only

Letters to the Editor

Search Results

Discussion

Teachers don’t have safety net

Site Map

Contact Us