It is passed the time for the "elders" to speak up. The younger teachers need to wake 'em and shake 'em.
Unless you have switched your retirement plan from the defined option, your retirement benefits are based on your last 5 years salary. WAKE UP elders! The $1000.00 bonus in the proposed settlement is AGAIN $232 LESS than what 2% represents. Do the math.
It is $232 LESS toward your retirement benefit! Do the math.
IF the district does this it will reduce the total amount of your benefits by $1392 over the 3 years you are stalled at the "longevity step".
That's right: before you retire it will cost you $1392 in your benefit formula.
This has now become a standard. Over the 5 years before you retire it will cost you $1392 in your benefit formula. I haven't examined D.R.O.P. implications.
If we allow this it will cost you ($232 x 3 years = $696) this time. PLUS $464 ($232 x 2) + $232 ($232 x 1) Total = $1392
$1000 is 1.6% NOT 2%. It does include future salary increases but also affects the future salary increases since the percentage increase is based on a lower figure every year!
Come on elders - wake up and call the lawyers. You are being discriminated against based on your age!!!!
You will be "short" EVERY RETIREMENT CHECK FOR THE REST OF YOUR LIFE.
This is how you are rewarded for your loyalty and experience.
Are there that many of you old-timers?
There must be. The scale is being compressed in stages through 2011.
Look HERE
Perhaps somebody smarter than me can interpret the "what" and "why".
Perhaps someone can explain why CTA has let this happen. Yvonne? Jean??
VOTE IT DOWN!
IT'S YOUR FUTURE!
Lamb, John R.
Agency Name: Hillsborough Co School Board
* Salary in 06-07: $40,252.32
* Monthly retirement payment: $6,921.15
* "Retired" in: 2/1/1996
Edgecomb, Doretha W.
Agency Name: Hillsborough Co School Board
* Salary in 06-07: $40,252.32
* Monthly retirement payment: $4,279.63
* "Retired" in: 10/1/1996
Ref.
Subscribe to:
Post Comments (Atom)
Posts
2 comments:
OK-OK--preaching to the choir!!! I'm an old timer--20+ years--and have voted "NO" and "X"ed out I can't remember how many things over the last few years. My lemming colleages continue to be grateful for any crumb--or in extreme self denial as to what will happen once their generous salary ceases. This is why we need a competent school board and superintendent. Until the rest of us summon up some guts we're all going down that slope faster and faster! And... I still hate Springboard!!!!! And.. xanax has a generic and isn't covered by the $4.00 prescription programs!!!!!
You're right. No one ever looks at anything but the money, but its the language and the weak negotiating by CTA that comes back to bite us every time. I'm voting "NO" and yes, Springboard will drive one to drink . . or to xanax! This is the year that Elia needs to step up and refuse a raise. News at 11:00--not!
Post a Comment