In 10 years teacher pensions will be over $10 Billion Annually in CA

[General of Darkness]

First off, there are 307,000 teachers in CA and the average is close to about $70K annually. Assuming a 5% retirement rate, it could be higher, it's hard to tell, but it's most likely a decent number. Here's what I came up with.

Now keep in mind, as teachers retire, they are replaced, so the annual salary commitment will stay about the same, but the pension commitment will ONLY get larger, every year. CA is f'd if this is not stopped. What's funny I did this using some very simple math, and NO ONE is talking about this, in this manner.

http://img535.imageshack.us/img535/7046/teacherpensions.png

[Ponce]

They better buy their own printing presses and start printing money...........same thing for Social Security.

[mightymanx]

I will bet that in less than 5 years the only "pension" anyone will see is a full belly at bed time with food left over for breakfast.

[mrnhtbr2232]

Hell GoD:

- we still have magnificent forests, mountains, oceans, and waterways.
- some of the best world class arts and sciences.
- top end technology infrastructure.
- vast tracts of land completely devoid of people.
- all kinds of wildlife.
- extensive access to goods and services of every kind imaginable.
- the best weather in North America.

Ok, sure we also have millions of illegals, tons of welfare bums, and crappy gun laws, but I suppose it's a matter of degrees. The fiscal train wreck we call pension obligations is going to be a show stopper though you're right about that. But let's not forget to appreciate what we do have - California will never suck enough to leave - of course, you folks down in the Southland are another story.... ;D

[drafter]

Sad that the home of my birth has gone to crap so bad. The state has completely gone down the tubes and I will never return. I just hope the disease doesn't spread too much.

[Cobalt]

So in 10 yrs it will cost California to fund teachers pension about the same amount that they were paying for Illegal Aliens per year back in 2004


Illegal Immigration Costs California Over Ten Billion Annually
http://usgovinfo.about.com/od/immigrationnaturalizatio/a/caillegals.htm

[Hillbilly]

Here is another disaster.

In Oregon Public employees and Teachers get to retire at about 105% of their last salary. That enough should have people outraged but the kicker is that they base their retirement on the salary that they had in the last 5 or six years of employment. so some teacher and be making 30k a year for 20 years kiss a lot of ass get promoted to a 150k a year job and then retire at 105% of the 150K not an average based on their whole life time earnings.

I know that is not the case with anyone I know in the private sector. :boom