13,000 protest Governor's plan to change collective bargaining for public employees

[30ashopper]

Actually, he won 52% of the vote in a close race that set records for spending.

The Democratic candidate got 47% and is still the mayor of the largest city in the state (has been since 2004).

Not exactly a severe arse whooping that means he can do whatever he wants. :roll:

Obama 53%, McCain 47%. That didn't stop Obama and the democrats from ramming ObamaCare down our throats. ;-) All I ask is equal assessment of similar data sets.

 

[30ashopper]

And she also says the unions already conceded $100 million in benefits - then he pulled this, which is why they are so fired up!

According to the governor on CNN, they basically agreed to this knowing that they could use collective bargaining to force the rates and benefits back up after the storm blew over. Hence the need for ending that. If you can catch a replay of his press conference I'd suggest it, it's pretty enlightening.

 

[Bob Wells]

What will their annual income be from the state pension after they retire at 55? How much will they earn through state funded medical coverage? When I calculate my income, I include what my company pays into my 401K. Have you accounted for that kind of income in your calculations?

It appears that they put in approx 11 percent toward retirement based on 26000 annual pay.

 

[30ashopper]

Have a little bit more understanding about Floridas system, so let me give you a little insight as I understand it. First Teacher recieve a 1.6 percent per year of work and is based on the annual final compensation of the highest 5 of last ten years. As for insurance workers in the Florida Retirement System are given a $5 per year of work to go towards insurance. If you don't have health insurance you do not recieve this supplement. So a Teacher who is able to retire at 55 at the average salary of $55000 per year, based of 27 years that this Teacher got their job directly out of college, will recieved if my math is correct $23760 and because they are able to afford insurance they will recieve $135 per month that offsets their cost. I would venture to guess many teachers do not retire at 55 and many will work much longer. This is closer to what they are paying the average starting teacher.

I didn't understand any of what you said.. but I'd like too. I would really like to know what teachers, specifically those in Walton County, make, taking into account salary and estimated pension benefits assuming they retire at 55 and live their life expectancy.

If we knew that it would much easier to decide whether or not we should raise their pay.

 

[30ashopper]

It appears that they put in approx 11 percent toward retirement based on 26000 annual pay.

11% of base salary? What are those benefits worth once they retire. That must be publish somewhere.

 

[AlphaCrab]

Oh my!

...just payback for Gabby and the innocents killed? Glad to see the middle class reacting en mass, embolded. The people will have the power, this revolution has only just begun. Recall Walker NOW! Recall Scott next!

 

[Bob Wells]

11% of base salary? What are those benefits worth once they retire. That must be publish somewhere.

1.6 percent per year of service. I think I said that in my last response or are you talking about the cost over the life of the retiree.

 

[Bob Wells]

...just payback for Gabby and the innocents killed? Glad to see the middle class reacting en mass, embolded. The people will have the power, this revolution has only just begun. Recall Walker NOW! Recall Scott next!

Dislike, and do not support the attitude or the implication. I support the purpose of their protest.

 

[30ashopper]

1.6 percent per year of service. I think I said that in my last response or are you talking about the cost over the life of the retiree.

Ah ok.. I was having a hard time following you here -

First Teacher recieve a 1.6 percent per year of work and is based on the annual final compensation of the highest 5 of last ten years. As for insurance workers in the Florida Retirement System are given a $5 per year of work to go towards insurance. If you don't have health insurance you do not recieve this supplement. So a Teacher who is able to retire at 55 at the average salary of $55000 per year, based of 27 years that this Teacher got their job directly out of college, will recieved if my math is correct $23760 and because they are able to afford insurance they will recieve $135 per month
that offsets their cost.

Does that pension payment get a COLA while they are retired?

Lets assume they work for thirty three years (22 -> 55) and live to 82. Their top base salary when they leave (in 2010 dollars) would be 61K. So...

1.6% * 33 = 53% * 61K = 33K + (($5 * 33 = $165) * 12) = 35K

Retirement years would be about 28, so 28 * 35K = $980,000.00.

Take that and devide it by the number of years worked: $980,000.00 / 33 = 30K.

So their actul salary is whatever they make annually plus $30,000.00 in future benefits.

So a Walton County teacher with a BA really makes 65K to start, and at retirement, they'll be making about 100K.

I wonder if pension contributions are taxed?

 

[30ashopper]

This whole deal seems to be structured so that it's more lucrative for teachers if they retire early.