Thursday, May 2, 2013

This Bill Will Cut All Public Educator Take Home Pay by 2%

Important Notice!

I just got this from the LAE legislative contact system. This bill is being heard in the retirement committee today! Please send an email to the members of the retirement committee if you do not want your take home pay to be cut by 2% just to fund excessive benefits approved for someone else by the legislature. This extra assessment is an unfair "tax" on present employees that they will never benefit from. I suggest you use the LAE contact system from the link at the bottom of the article.

The House Retirement Committee will hear bill today to increase employee contribution rate and reduce benefits.

HB 57, if passed, will increase the employee contribution rate by 2%. However, the additional employee contributions will not be credited to the employee's TRSL account. Instead, the additional 2% will go to the unfunded accrued liability of TRSL accrued after July 1, 1989.
In addition, HB 57 would increase the period over which pension benefits are calculated. In a defined benefit, such as TRSL, the benefit is determined by multiplying the number of years of service by the benefit factor (a fixed percentage of pay) by the “final average salary.”
HB 57 proposes to increase the period used to determine your "final average compensation" from 36 months to 60 months. This will result in a reduction of your retirement benefit or require you to work longer to achieve the same benefit. This change alone could reduce a TRSL member's retirement benefit by as much as 4.5%.
Since, HB 57 would apply to current employees, HB 57 would violate the obligation of contract. HB 57 alters the benefit aspects of TRSL for current employees, thereby, violating the Louisiana Constitution, and therefore also violates the contract you and your employer agreed to upon your participation in TRSL.

Contact House Retirement Committee Members today and ask them to oppose HB 57.
 
 

4 comments:

Anonymous said...

Thank you, Micheal. I would not even be aware of things happening in this legislative session due to being busy teaching my 8th grade students about how to use TOPS to pay for college expenses and not ruining their chances for this money with poor choices earning grades as a 9th grader. They also have me busy verifying my students, 6 of whom have 60+ absences for the year, to determine my value based on their test scores. You know, being a "tenured, lazy, fat, union hog at the troth of public education only concerned with how I can benefit, not my students," kind of guy. I hope the defenders are able to get their emails out...thanks for the easy link!

Anonymous said...

Yes, that was sarcasm...I know my TRUE value...my students will milk the TOPS system for millions of dollars over my teaching career so they can make billions of dollars over their lifetime supporting their families. I just like to keep sarcastic humor in my life by trying to see my role from the "reformers" point of view. LOL

Michael Deshotels said...

So do you think that if teachers gave up their "unions" or professional organizations, as I prefer to call them, would LABI and other big buisness groups who are always criticizing the unions,support teachers in resisting this unfair tax on their wages? My advice is don't ever depend on the reformers and big buisnesses who get government welfare in the form of big tax breaks to give educators a fair deal. We had better organize and take care of ourselves.

Anonymous said...

I do believe teachers need to organize a make a radical stand against these reforms, but I'm afraid that teachers would prefer to "time out"(retire/switch professions) rather than fight because we are overwhelmed by what we currently do just to survive. Fighting requires time we just don't have. Fighting, in a way to be heard, requires protests during a time of the school year we are "too busy" or things are happening "too important" to stop. Organizing when legislators aren't there, during the summer, for instance is rather "empty". Until these excuses are washed away by true anger, frustration, etc...I'm afraid teachers will simply "time out" and just disappear leaving in their wake a public ed system that has been gutted by reform.