HeatPro
Carpal Tunnel
Reged: 07/30/04
Posts: 23546
Loc: South New Jersey
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Personal and fiscal responsibility is coming to NJ.
Part-time teachers and public employees won't get pension benefits. They will be moved to a pension savings fund they pay for.
Quote:
Feb. 22 (Bloomberg) -- New Jersey’s Senate passed a package of bills aimed at closing a $34.4 billion hole in the state pension by excluding part-time workers from the system, reducing benefits and forcing teachers to pay more for health care.
The three measures would shift future employees who work less than 35 hours a week into a defined contribution plan modeled after private retirement options rather than the existing system, which guarantees monthly benefits. The package heads to the Assembly. Both houses are controlled by Democrats.
...
The measures would require teachers and municipal government workers to contribute 1.5 percent of their pay to health insurance premiums, the first time many of them would be required to do so. Other measures would base pension benefits on workers’ five highest-paid years, rather than the current three; cap at $15,000 the use of unpaid sick time; and roll back a 9 percent benefits increase enacted in 2001.
Senator Michael Doherty, a Republican from Warren County who sponsored the higher health-care contributions, said he anticipates that bill will save more than $300 million annually starting next year.
http://www.businessweek.com/news/2010-02...t-update2-.html
This measure might attract the more competent people, looking for a good living to any profession other than state and teaching jobs. After all, as you need to pay banking professionals millions of dollars a year each to get them to work for banks, perhaps paying teachers less will get more people to be teachers and state workers. Seems the idea of having to pay for talent only works for those at the top of the pyramids.
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Friends tell people how to live past 60.
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Bob_Q
Carpal Tunnel
Reged: 06/28/01
Posts: 10068
Loc: Albany area,New York
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OMG,what if they were to pull something in New York now,like maybe make retired teachers pay income tax on their retirement,like other people do? That what be horrible!! They wouldn't be able to move to Myrtle Beach and live like kings any longer. Just the thought of it must be enough to send a chill up a teachers spine,I'm sure. 
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WHAT IF??????
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Dennis_H_N.J.
Sandwichless in N.J.
Reged: 03/12/02
Posts: 22923
Loc: Toms River, N.J.
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FINALLY.... What took so long? The poor state leeches will have to carry their own weight! 
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Politico's make rules for others, and exceptions for themselves...
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bljack
Tile Setter By Trade
Reged: 07/12/04
Posts: 1655
Loc: Central Jersey
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Big freaking deal. The state workers union and the teachers unions and other special interests have bankrupt this state. Not only should they pay that amount, they should pay more, or let their unions negotiate and pay for it out of their union dues and completely absolve the state from any responsibility of the pension or health care. Instead, the dues they pay go to making union leaders richer and PAC money. The money spigot has to get turned off at some point.
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HeatPro
Carpal Tunnel
Reged: 07/30/04
Posts: 23546
Loc: South New Jersey
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We must protect the 'entitlements' of bank executives to get 200 million dollars a year or they won't work. State workers and teachers should know they shouldn't have a union to keep their salaries near the private sector, and they should accept working for less without whining that they have to pay for their health care like some workers who don't have their health care and retirement funds as part of the attraction to work there. Let their parents pay off the four years of college ($160,000 in loans) when they don't get paid as much as a union laborer.
The nation should attract people who are stupid enough to work for less than the private sector to be their educators. It's not the same as attracting bankers as they are far more important than teachers, firemen, and police. Anybody who went to school can be a teacher; attending rock concerts is the source of rock musicians.
Anyone have some short sights?
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Friends tell people how to live past 60.
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