Posted on 04/22/2015 7:22:46 AM PDT by knarf
I've done a lot of thinking about this and I'd like feed back
IT THEN FUNDS THE SCHOOL
Right...
This makes Obamacare sound easy..
I have seen such schemes posted before....
It begets the question why would anyone go to work in a school for the retarded? They have no monetary future beyond low skill/wage jobs if they are even employable at all.
The converse in high performing suburban districts will benefit substantially.
Further...then it becomes servitude for the student who can never escape the bondage to these teachers.
Where does it end?
I'll admit I don't have a lot of things worked out, but one thing I DO know .... public school is not going away, maybe after the EPA steps down ...
and it costs a LOT of taxpayer's money and every PS district in America is being haunted by the teacher's pension fund
So we tax private businesses to pay for extravagant pensions for public employees that the private business owners can’t even afford to pay to their own employees?
If my SD graduates 100 kids a year, in 10 years, a thousand are (hopefully) in the workforce (incentive for a teacher to really teach a kid to actually want to work or .... God forbid . learn to be a capitalistic entrepreneuer, based on Aristotles mean, that he learned IN SCHOOL .... etc.
THOSE are the kinds of thoughts I'm thinking
If a teachetr teaches .... from kindergarten up to graduation ... he/she can pack his own chute by really teaching.
I never said tax a business ... I said the employee pays the school district he identifies on his work app
End tenure...and star gettign rid of the bad teachers, who are protected by the unions..
Ah, so just tax private workers even more, on top of the state and local taxes they pay to fund the districts, to pay for extravagant benefits for public employees that the private workers will never receive themselves.
Depends on when they started teaching. Starting in the 80's, new teachers had to join Social Security. The ones starting before that had the option to stay in the pension system.
If they stayed in the pension system, they don't get credit for Social Security contributions, unless they work another job that contributes to Social Security. But, the Government Pension Offset (GPO) reduces any Social Security benefit by 2/3rds of their pension benefit.
What's their average yearly take??
It depends on the state. In Texas, after full vesting, I think it's 64% of the average of their 5 highest years of earning. That's for single lifetime: joint lifetime reduces it somewhat, depending on the option chosen and the age of the joint beneficiary.
But, once the amount is calculated, it's a fixed amount. It doesn't increase unless the Texas Legislature enacts legislation to do so. They haven't done so for about 10 years.
Great Education? I question that. In my school district. The best students get most of their education outside of school. There are several math tutoring companies that have sho2wn up. And IXL, ALEX and Khan Academy all tutor kids and do a far better job of teaching than the school employees.
The sad thing is that the schools ratings have all gone up. But the school has nothing to do with it. The reality is that you are throwing away your money when you give it to most school districts. The teachers are literally holding back education.
How about a free market in education and zero public education. As another guy said—your plan makes Ocare look easy.
I honestly don't know that much about how public school is funded in other states, but I DO know the teacher's union is strong enough to negotiate higher pensions than can be afforded and that (in Pa, anyway) school districts are stretched to find a way to pay them
Public school teacher pensions have nothing to do with their unions. Almost every teacher pension plan is tied to their respective states, with the pension formula set by the state. It is not something that is negotiated by their union. But it certainly is a political thing.
As to the question itself, most teachers do contribute into both a pension plan and social security, and so do collect from both.
What's their average yearly take?
It varies widely, depending on the formula for the pension. The formulas take into account the teacher's salary and years of service. Then there is some multiplier. For example:
Yearly pension = final salary x number of years x 0.02
So a teacher making $50,000 a year would have a pension of $30,000 after 30 years. But that normally wouldn't be collectible until age 55 or 60.
Now here's the problem. These formulas are a bit too generous. And many folks take advantage of the "final salary" factor by doing all sorts of extra work in that final year. So that teacher in the above example could end up with a pension of $40,000.
I always felt that a pension plan (unless it's incredibly well-funded) should be paying out half-pay, at best.
1/2 of 1% NOW - but no assessment or tax ever stays at the starting rate.
I am not being critical per se.
These types of schemes are ponzi at best and criminal at worst. You say that you wouldn’t miss 0.5% of you paycheck.
Ok...and income taxes were supposed to be no more than 4% and socialist stupidity was supposed to be 2% or some crap like that when they started and look where we are now.....
No, your idea is a bad idea because it makes it too easy to lose control of your salary in mandatory deductions like we have now.
Top 50 School District Superintendents with the Fattest Illinois Pensions
Reboot Contributor - Kevin Hoffman
Kevin Hoffman Email
Reboot Author Image REBOOT STAFF
Jul 15, 2014 30032 1
As you’d probably expect, a good chunk of individuals receiving the fattest Illinois pensions are former public school district superintendents.
In fact, out of the 200 largest government pensions, 76 were school administrators, according to data published by Taxpayers United of America (TUA). Dave Urbanek, a spokesman at the Teachers’ Retirement System (TRS), questioned the validity of TUA’s calculations for estimated lifetime pension payouts as well as for the percentage of lifetime estimate paid by employees. The original data used to make those calculations was acquired from TRS through Freedom of Information Act requests.
To avoid information overload, you’ll find only the top 50 below. The first seven district superintendents were previously on this list of the top 25 Illinois government pensions. If you have trouble reading the graphic, there is a plain text version that follows.
(*Assumes life expectancy of 85 and 3 percent cost of living adjustment compounded annually)
Top 50 School District Superintendent Pensions
1. Lawrence A. Wyllie
Title: District Superintendent
Employer: Lincoln-Way High School District 210
Annual Pension: $289,861
Employee Contributions: $398,488
Age at Retirement: 75 (Retired June 2013)
Pension Paid to Date: $219,006
*Estimated Lifetime Pension Payout: $3,163,732
Percentage of Lifetime Estimate Paid by Employee: 12.6%
2. Henry S. Bangser
Title: District Superintendent
Employer: New Trier Township High School District 203
Annual Pension: $285,945
Employee Contributions: $275,366
Age at Retirement: 57 (Retired July 2006)
Pension Paid to Date: $1,917,706
*Estimated Lifetime Pension Payout: $9,601,168
Percentage of Lifetime Estimate Paid by Employee: 2.9%
3. Gary T. Catalani
Title: District Superintendent
Employer: Community Unit School District 200
Annual Pension: $284,674
Employee Contributions: $289,151
Age at Retirement: 56 (Retired June 2011)
Pension Paid to Date: $1,652,783
*Estimated Lifetime Pension Payout: $10,345,806
Percentage of Lifetime Estimate Paid by Employee: 2.8%
4. Laura L. Murray
Title: District Superintendent
Employer: Homewood-Flossmoor Community High School District 233
Annual Pension: $280,070
Employee Contributions: $298,591
Age at Retirement: 57 (Retired July 2008)
Pension Paid to Date: $1,442,008
*Estimated Lifetime Pension Payout: $9,994,442
Percentage of Lifetime Estimate Paid by Employee: 3.0%
5. Mary M. Curley
Title: District Superintendent
Employer: Hinsdale Community Consolidate School District 181
Annual Pension: $272,012
Employee Contributions: $248,708
Age at Retirement: 55 (Retired June 2007)
Pension Paid to Date: $1,579,270
*Estimated Lifetime Pension Payout: $10,406,837
Percentage of Lifetime Estimate Paid by Employee: 2.4%
6. Maureen L. Hager
Title: District Superintendent
Employer: North Shore School District 112
Annual Pension: $263,741
Employee Contributions: $277,774
Age at Retirement: 58 (Retired June 2009)
Pension Paid to Date: $1,132,953
*Estimated Lifetime Pension Payout: $9,186,752
Percentage of Lifetime Estimate Paid by Employee: 3.0%
7. Jonathan E. Lamberson
Title: District Superintendent
Employer: Riverside School District 96
Annual Pension: $262,516
Employee Contributions: $370,166
Age at Retirement: 58 (Retired June 2013)
Pension Paid to Date: $218,764
*Estimated Lifetime Pension Payout: $10,339,571
Percentage of Lifetime Estimate Paid by Employee: 3.6%
8. Larry K. Fleming
Title: District Superintendent
Employer: Lincolnshire-Prairie View 103
Annual Pension: $258,163
Employee Contributions: $326,507
Age at Retirement: 55 (Retired June 2012)
Pension Paid to Date: $452,502
*Estimated Lifetime Pension Payout: $11,535,660
Percentage of Lifetime Estimate Paid by Employee: 2.8%
9. James S. Hintz
Title: District Superintendent
Employer: Adlai Stevenson High School District 125
Annual Pension: $256,583
Employee Contributions: $235,017
Age at Retirement: 55 (Retired June 2005)
Pension Paid to Date: $1,901,220
*Estimated Lifetime Pension Payout: $9,259,110
Percentage of Lifetime Estimate Paid by Employee: 2.5%
10. Mohsin M. Dada
Title: Assistant District Superintendent & Treasurer
Currently the Chief Financial Officer & Treasurer at North Shore School District 112
Employer: Schaumburg Community Consolidated School District 54
Annual Pension: $254,700
Employee Contributions: $299,494
Age at Retirement: 59
Pension Paid to Date: $655,775
*Estimated Lifetime Pension Payout: $8,921,536
Percentage of Lifetime Estimate Paid by Employee: 3.4%
11. John G. Conyers
Title: District Superintendent
Employer: Palatine Community Consolidated School District 15
Annual Pension: $252,121
Employee Contributions: $217,805
Age at Retirement: 57 (Retired June 2003)
Pension Paid to Date: $2,260,905
*Estimated Lifetime Pension Payout: $7,747,457
Percentage of Lifetime Estimate Paid by Employee: 2.8%
12. Kevin G. Burns
Title: District Superintendent
Employer: Community High School District 218 (based in Oak Lawn)
Annual Pension: $246,804
Employee Contributions: $223,197
Age at Retirement: 55 (Retired June 2007)
Pension Paid to Date: $1,404,489
*Estimated Lifetime Pension Payout: $9,414,003
Percentage of Lifetime Estimate Paid by Employee: 2.4%
13. Dennis G. Kelly
Title: District Superintendent
Employer: Lyons Township High School District 204
Annual Pension: $244,044
Employee Contributions: $289,587
Age at Retirement: 62 (Retired July 2009)
Pension Paid to Date: $677,835
*Estimated Lifetime Pension Payout: $6,391,976
Percentage of Lifetime Estimate Paid by Employee: 4.5%
14. Harry D. Griffith
Title: District Superintendent
Employer: Lake Forest School District 67
Annual Pension: $241,557
Employee Contributions: $337,364
Age at Retirement: 61 (Retired June 2012)
Pension Paid to Date: $394,676
*Estimated Lifetime Pension Payout: $7,771,060
Percentage of Lifetime Estimate Paid by Employee: 4.3%
15. Howard J. Bultinck
Title: District Superintendent
Employer: Sunset Ridge School District 29
Annual Pension: $240,024
Employee Contributions: $257,014
Age at Retirement: 57 (Retired June 2007)
Pension Paid to Date: $1,416,684
*Estimated Lifetime Pension Payout: $8,299,743
Percentage of Lifetime Estimate Paid by Employee: 3.1%
16. Norman R. Wetzel
Title: District Superintendent
Employer: Community Unit School District 300
Annual Pension: $239,341
Employee Contributions: $179,203
Age at Retirement: 55 (Retired June 2002)
Pension Paid to Date: $2,303,405
*Estimated Lifetime Pension Payout: $7,907,433
Percentage of Lifetime Estimate Paid by Employee: 2.3%
17. Lawrence M. Baskin
Title: District Superintendent
Employer: Glen Ellyn Community Consolidated School District 89
Annual Pension: $237,497
Employee Contributions: $216,134
Age at Retirement: 58 (Retired June 2005)
Pension Paid to Date: $1,796,334
*Estimated Lifetime Pension Payout: $7,357,195
Percentage of Lifetime Estimate Paid by Employee: 2.9%
18. Henry A. Gmitro
Title: District Superintendent
Employer: Community Consolidated School District 93 (based in Bloomingdale)
Annual Pension: $234,803
Employee Contributions: $282,750
Age at Retirement: 56 (Retired July 2009)
Pension Paid to Date: $1,115,313
*Estimated Lifetime Pension Payout: $9,198,745
Percentage of Lifetime Estimate Paid by Employee: 3.1%
19. Ronald C. Patton
Title: District Superintendent
Employer: Bloom Township High School District 206
Annual Pension: $232,004
Employee Contributions: $203,340
Age at Retirement: 58 (Retired July 2004)
Pension Paid to Date: $1,930,173
*Estimated Lifetime Pension Payout: $6,978,947
Percentage of Lifetime Estimate Paid by Employee: 2.9%
20. Marvin E. Edwards
Title: District Superintendent
Employer: School District U-46 (based in Elgin)
Annual Pension: $231,247
Employee Contributions: $0
Age at Retirement: 58 (Retired July 2004)
Pension Paid to Date: $2,271,298
*Estimated Lifetime Pension Payout: $6,572,249
Percentage of Lifetime Estimate Paid by Employee: 0.0%
21. Timothy D. Kanold
Title: District Superintendent
Employer: Adlai Stevenson High School District 125
Annual Pension: $230,041
Employee Contributions: $213,978
Age at Retirement: 56 (Retired June 2007)
Pension Paid to Date: $1,335,592
*Estimated Lifetime Pension Payout: $8,360,306
Percentage of Lifetime Estimate Paid by Employee: 2.6%
22. Gerald D. Chapman
Title: District Superintendent
Employer: Palatine Township Hight School District 211
Annual Pension: $227,908
Employee Contributions: $196,925
Age at Retirement: 57 (Retired June 2007)
Pension Paid to Date: $2,385,088
*Estimated Lifetime Pension Payout: $6,623,926
Percentage of Lifetime Estimate Paid by Employee: 3.0%
23. Dennis R. Conti
Title: District Superintendent
Employer: Woodland Community Consolidated School District 50
Annual Pension: $225,415
Employee Contributions: $220,399
Age at Retirement: 57 (Retired June 2005)
Pension Paid to Date: $1,704,946
*Estimated Lifetime Pension Payout: $7,366,655
Percentage of Lifetime Estimate Paid by Employee: 3.0%
24. James J. Gallagher
Title: District Superintendent
Employer: Evergreen Park Community High Sschool District 231
Annual Pension: $224,493
Employee Contributions: $249,906
Age at Retirement: 60 (Retired July 2008)
Pension Paid to Date: $1,176,860
*Estimated Lifetime Pension Payout: $6,815,433
Percentage of Lifetime Estimate Paid by Employee: 3.7%
25. Glenn W. McGee
Title: District Superintendent
Employer: Wilmette School District 39
Annual Pension: $221,742
Employee Contributions: $260,525
Age at Retirement: 56 (Retired June 2007)
Pension Paid to Date: $1,299,699
*Estimated Lifetime Pension Payout: $8,071,001
Percentage of Lifetime Estimate Paid by Employee: 3.2%
26. Donald E. Weber
Title: District Superintendent
Employer: Naperville Community Unit School District 203
Annual Pension: $221,464
Employee Contributions: $213,568
Age at Retirement: 61 (Retired July 2003)
Pension Paid to Date: $2,023,316
*Estimated Lifetime Pension Payout: $5,482,092
Percentage of Lifetime Estimate Paid by Employee: 3.9%
27. Edward F. Rafferty
Title: District Superintendent
Employer: Schaumburg Community Consolidated School District 54
Annual Pension: $221,083
Employee Contributions: $331,473
Age at Retirement: 58 (Retired June 2013)
Pension Paid to Date: $167,041
*Estimated Lifetime Pension Payout: $8,690,475
Percentage of Lifetime Estimate Paid by Employee: 3.8%
28. Susan J. Bridge
Title: District Superintendent
Employer: Oak Park-River Forest School District 200
Annual Pension: $220,833
Employee Contributions: $238,380
Age at Retirement: 60 (Retired June 2007)
Pension Paid to Date: $1,340,443
*Estimated Lifetime Pension Payout: $6,511,117
Percentage of Lifetime Estimate Paid by Employee: 3.7%
29. Linda M. Hanson
Title: District Superintendent
Employer: Highland Park Township High School District 113
Annual Pension: $220,249
Employee Contributions: $183,720
Age at Retirement: 56 (Retired July 2003)
Pension Paid to Date: $1,979,434
*Estimated Lifetime Pension Payout: $7,136,433
Percentage of Lifetime Estimate Paid by Employee: 2.6%
30. Jack K. Barshinger
Title: District Superintendent
Employer: Batavia Unit School District 101
Annual Pension: $219,997
Employee Contributions: $307,184
Age at Retirement: 59 (Retired June 2013)
Pension Paid to Date: $166,220
*Estimated Lifetime Pension Payout: $8,187,147
Percentage of Lifetime Estimate Paid by Employee: 3.8%
31. Kathryn J. Robbins
Title: District Superintendent
Employer: Leyden Community High School District 212
Annual Pension: $217,958
Employee Contributions: $315,660
Age at Retirement: 58 (Retired June 2013)
Pension Paid to Date: $164,679
*Estimated Lifetime Pension Payout: $8,567,616
Percentage of Lifetime Estimate Paid by Employee: 3.7%
32. Christopher J. Ward
Title: District Superintendent
Employer: Lockport Township High School District 205
Annual Pension: $217,784
Employee Contributions: $199,728
Age at Retirement: 60 (Retired July 2004)
Pension Paid to Date: $1,829,970
*Estimated Lifetime Pension Payout: $5,880,516
Percentage of Lifetime Estimate Paid by Employee: 3.4%
33. Steve K. Humphrey
Title: District Superintendent
Employer: DuPage High School District 88
Annual Pension: $217,756
Employee Contributions: $346,253
Age at Retirement: 64 (Retired June 2012)
Pension Paid to Date: $367,523
*Estimated Lifetime Pension Payout: $5,836,874
Percentage of Lifetime Estimate Paid by Employee: 5.9%
34. James W. White
Title: District Superintendent
Employer: Queen Bee School District 16
Annual Pension: $217,082
Employee Contributions: $270,104
Age at Retirement: 64 (Retired June 2012)
Pension Paid to Date: $1,138,007
*Estimated Lifetime Pension Payout: $5,862,057
Percentage of Lifetime Estimate Paid by Employee: 4.6%
35. Jean B. McGrew
Title: District Superintendent
Employer: Northfield Township High School District 225
Annual Pension: $216,984
Employee Contributions: $204,323
Age at Retirement: 64 (Retired July 1998)
Pension Paid to Date: $2,674,602
*Estimated Lifetime Pension Payout: $3,826,598
Percentage of Lifetime Estimate Paid by Employee: 5.3%
36. Bruce A. Lane
Title: District Superintendent
Employer: Mannheim School District 83
Annual Pension: $216,192
Employee Contributions: $285,661
Age at Retirement: 60 (Retired July 2011)
Pension Paid to Date: $565,194
*Estimated Lifetime Pension Payout: $7,167,013
Percentage of Lifetime Estimate Paid by Employee: 4.0%
37. Joseph A. Palermo
Title: District Superintendent
Employer: Berkeley School District 87
Annual Pension: $216,162
Employee Contributions: $260,911
Age at Retirement: 59 (Retired July 2009)
Pension Paid to Date: $949,395
*Estimated Lifetime Pension Payout: $7,148,151
Percentage of Lifetime Estimate Paid by Employee: 3.7%
38. Robert T. Howard
Title: District Superintendent
Employer: Community Consolidated School District 59
Annual Pension: $213,632
Employee Contributions: $168,445
Age at Retirement: 59 (Retired July 2004)
Pension Paid to Date: $1,795,080
*Estimated Lifetime Pension Payout: $6,101,229
Percentage of Lifetime Estimate Paid by Employee: 2.8%
39. Jack B. Schoenholtz
Title: District Superintendent
Employer: Leyden Community High School District 212
Annual Pension: $213,197
Employee Contributions: $176,716
Age at Retirement: 61 (Retired July 1999)
Pension Paid to Date: $2,553,926
*Estimated Lifetime Pension Payout: $4,719,812
Percentage of Lifetime Estimate Paid by Employee: 3.7%
40. Linda J. Vieth
Title: District Superintendent
Employer: Sunset Ridge School District 29
Annual Pension: $213,174
Employee Contributions: $277,223
Age at Retirement: 55 (Retired June 2013)
Pension Paid to Date: $161,065
*Estimated Lifetime Pension Payout: $9,800,542
Percentage of Lifetime Estimate Paid by Employee: 2.8%
41. Mark Van Clay
Title: District Superintendent
Employer: La Grange School District 102
Annual Pension: $212,984
Employee Contributions: $262,100
Age at Retirement: 61 (Retired July 2009)
Pension Paid to Date: $935,550
*Estimated Lifetime Pension Payout: $6,285,042
Percentage of Lifetime Estimate Paid by Employee: 4.2%
42. Richard P. Dufour
Title: District Superintendent
Employer: Adlai Stevenson High School District 125
Annual Pension: $212,739
Employee Contributions: $190,390
Age at Retirement: 54 (Retired June 2002)
Pension Paid to Date: $2,026,238
*Estimated Lifetime Pension Payout: $7,369,564
Percentage of Lifetime Estimate Paid by Employee: 2.6%
43. Roger K. Miller
Title: District Superintendent
Employer: Hinsdale Township High School District 86
Annual Pension: $211,874
Employee Contributions: $228,301
Age at Retirement: 60 (Retired July 2005)
Pension Paid to Date: $1,620,256
*Estimated Lifetime Pension Payout: $5,890,973
Percentage of Lifetime Estimate Paid by Employee: 3.9%
44. Paul Swanstrom
Title: District Superintendent
Employer: Joliet Township High School District 204
Annual Pension: $211,393
Employee Contributions: $273,560
Age at Retirement: 58 (Retired July 2011)
Pension Paid to Date: $544,406
*Estimated Lifetime Pension Payout: $7,821,936
Percentage of Lifetime Estimate Paid by Employee: 3.5%
45. Michael Smoot
Title: District Superintendent
Employer: Wood Dale School District 7
Annual Pension: $210,556
Employee Contributions: $215,265
Age at Retirement: 61 (Retired July 2004)
Pension Paid to Date: $1,769,238
*Estimated Lifetime Pension Payout: $5,366,870
Percentage of Lifetime Estimate Paid by Employee: 4.0%
46. Sandra Renner
Title: District Superintendent
Employer: Butler School District 53
Annual Pension: $210,480
Employee Contributions: $310,196
Age at Retirement: 54 (Retired June 2013)
Pension Paid to Date: $159,030
*Estimated Lifetime Pension Payout: $10,172,714
Percentage of Lifetime Estimate Paid by Employee: 3.0%
47. Donna M. Joy
Title: District Superintendent
Employer: Flossmoor School District 161
Annual Pension: $209,839
Employee Contributions: $274,489
Age at Retirement: 64 (Retired July 2011)
Pension Paid to Date: $548,586
*Estimated Lifetime Pension Payout: $5,461,858
Percentage of Lifetime Estimate Paid by Employee: 5.0%
48. Roger M. Bergia
Title: District Superintendent
*Currently School Treasurer at Peoria Heights Community Unit School District 325
Employer: Peoria Heights Community Unit School District 325
Annual Pension: $208,845
Employee Contributions: $269,681
Age at Retirement: 74 (Retired June 2012)
Pension Paid to Date: $352,484
*Estimated Lifetime Pension Payout: $2,474,164
Percentage of Lifetime Estimate Paid by Employee: 10.9%
49. Patrick A. McMahon
Title: District Superintendent
Employer: Consolidated High School District 230
Annual Pension: $208,559
Employee Contributions: $227,859
Age at Retirement: 57 (Retired June 2007)
Pension Paid to Date: $1,230,965
*Estimated Lifetime Pension Payout: $7,211,691
Percentage of Lifetime Estimate Paid by Employee: 3.2%
50. Lawrence C. Pekoe
Title: District Superintendent
Employer: Deerfield School District 109
Annual Pension: $207,458
Employee Contributions: $139,232
Age at Retirement: 56 (Retired July 2005)
Pension Paid to Date: $1,553,725
*Estimated Lifetime Pension Payout: $7,128,187
Percentage of Lifetime Estimate Paid by Employee: 2.0%
Teacher pensions are different from the traditional company pensions. If you worked for a company, say General Electric, you got a pension without having to contribute anything towards it. The pension was just another negotiated company benefit. It would be fair to call that a union pension.
Teachers are required to contribute towards their pensions. In my neck of the woods, it's around 6% of their salary.
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