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Even when government does the right thing and balance budgets, the people and the retirees pay the bill.
"That could include teachers in the San Francisco Unified School District, which faces cuts of at least $113 million on top of a deficit of up to $20 million through June 2012. While district officials have said they may consider layoffs as part of next year's budget package, details are still unclear.
As it is, fewer teachers statewide are paying into the California State Teachers' Retirement System because many school districts have already cut their payrolls over the last several years, a Feb. 10 report from the state Legislative Analysts' office said. Taxpayers are ultimately on the hook for any pension shortfall-- the difference between the pension fund's assets and the amount it owes current and future retirees."
So, as economic realities hit government school districts, the taxpayers are forced to pay for the pension shortfall, caused, in part by unions that forced districts to hire more teachers.
Less teachers means taxpayers have higher tax liabilities to pay the pensions for the unionized teacher, many not needed in the first place.
More...
"That could include teachers in the San Francisco Unified School District, which faces cuts of at least $113 million on top of a deficit of up to $20 million through June 2012. While district officials have said they may consider layoffs as part of next year's budget package, details are still unclear.
As it is, fewer teachers statewide are paying into the California State Teachers' Retirement System because many school districts have already cut their payrolls over the last several years, a Feb. 10 report from the state Legislative Analysts' office said. Taxpayers are ultimately on the hook for any pension shortfall-- the difference between the pension fund's assets and the amount it owes current and future retirees."
So, as economic realities hit government school districts, the taxpayers are forced to pay for the pension shortfall, caused, in part by unions that forced districts to hire more teachers.
Less teachers means taxpayers have higher tax liabilities to pay the pensions for the unionized teacher, many not needed in the first place.
More...