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This is simple to grasp - teachers' pensions are DEFINED BENEFIT. Unlike the rest of us who aren't overpaid, teachers benefits are INDEPENDENT of the stock market, the economy, or the state's budget. They get money regardless. The rest of us have 401ks, and if the market goes down, so does our 401ks - no problem - just keep working till we drop dead to make up the slack. The teachers' contributions are invested by their pension fund. If the market goes south, who makes up the difference? Hint: it starts with a "T". The rest of us mere mortals have no such insulation from economic decline. In fact, it's even harder on us, because we have to make up any losses for he princely set. This is truly bizarre - a group is selected out for special treatment when so many other people are hurting, and worse, when international achievement stats show they've basically failed in their mission.

<blockquote data-quote="Rick" data-source="post: 156425" data-attributes="member: 577"><p>This is simple to grasp - teachers&#039; pensions are DEFINED BENEFIT.&nbsp; Unlike the rest of us who aren&#039;t overpaid, teachers benefits are INDEPENDENT of the stock market, the economy, or the state&#039;s budget.&nbsp; They get money regardless.&nbsp; The rest of us have 401ks, and if the market goes down, so does our 401ks - no problem - just keep working till we drop dead to make up the slack.&nbsp; The teachers&#039; contributions are invested by their pension fund.&nbsp; If the market goes south, who makes up the difference?&nbsp; Hint:&nbsp; it starts with a &quot;T&quot;.&nbsp; The rest of us mere mortals have no such insulation from economic decline.&nbsp; In fact, it&#039;s even harder on us, because we have to make up any losses for he princely set.&nbsp; This is truly bizarre - a group is selected out for special treatment when so many other people are hurting, and worse, when international achievement stats show they&#039;ve basically failed in their mission.</p></blockquote><p></p>

[QUOTE="Rick, post: 156425, member: 577"] This is simple to grasp - teachers' pensions are DEFINED BENEFIT. Unlike the rest of us who aren't overpaid, teachers benefits are INDEPENDENT of the stock market, the economy, or the state's budget. They get money regardless. The rest of us have 401ks, and if the market goes down, so does our 401ks - no problem - just keep working till we drop dead to make up the slack. The teachers' contributions are invested by their pension fund. If the market goes south, who makes up the difference? Hint: it starts with a "T". The rest of us mere mortals have no such insulation from economic decline. In fact, it's even harder on us, because we have to make up any losses for he princely set. This is truly bizarre - a group is selected out for special treatment when so many other people are hurting, and worse, when international achievement stats show they've basically failed in their mission. [/QUOTE]

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