Hands off pension plans
My wife and I retired from teaching after a combined 70 years of working with our states’ kids. We stayed in education, not because of the salary but because it provided us with good medical benefits and a decent pension.
We are among the luckier teachers as we are in TRS 1 where we got 2 percent times the number of years taught—up to 30 years maximum — times our highest two years salary averaged. Our medical benefits continue but are expensive, at almost $1,100 per month coming out of our retirement checks.
In the past, Olympia has seen fit to grant Boeing a $3 billion tax break one year when funds were flush. Zero increases for teachers. Red budget ink turned black several years ago because more than $900 million in the retirement system were taken to balance the budget, illegally in my opinion, as the fund is a dedicated fund. Now the TRS 1 and PERS 1 plans are soon going to be $2 billion short due to legislative inaction when times were good. No repayments!
We put up with a lack salary increases during the “good times” because we had a decent pension plan and medical benefits. Pensions are a promise.