Union Has $174.5 Million in Liabilities, $66.3 Million in Dues

Michigan Capitol Confidential ^ | 11/28/2010 | Tom Gantert

[MichCapCon]

The Michigan Education Association has often fought against lawmakers looking for cost savings in its members’ state-run pension program.

Now comes a report that they might have a problem paying for their own staffer’s pension liabilities.

The MEA has $174.5 million in retirement liabilities and just $66.3 million in dues in 2008-09, according to the Education Intelligence Agency, a research firm out of California run by Mike Antonucci. The Education Intelligence Agency also reports that the MEA lost 3,000 members in 2009.

“These fiscal problems for the MEA can’t be solely pinned on poor performance on their investments,” wrote Michael Van Beek, the director of education policy at the Mackinac Center for Public Policy, in an e-mail. “These liabilities are the result of the union trying to maintain unsustainable employee benefits — the same kind of benefits that they lobby Lansing to make taxpayers pay for. The great irony about the MEA’s struggle to manage their own labor costs is that they often march into school districts and tell school boards how to manage theirs.”...

[FormerACLUmember]

democrat party parasites

screw them

[humblegunner]

(Excerpt) Read more at michigancapitolconfidential.com ...

Why not just post it here?

[Lurker]

Yawn. Wake me when Teachers Union members start gibbeting the Union leadership in the streets.

[Christian Engineer Mass]

ponzi scheme. racketeering. fraud.

[stylin19a]

maybe they can start cutting here....

Expenses up Overall, MEA salary expenses are increasing. For the 2005-06 fiscal year, the average salary for each of the 346 MEA employees was $75,308. By 2008-09, 343 employees earned an average of $89,612 each – an increase of nearly 19 percent. Salters was paid $239,105 in fiscal year 2008-09, the most recent year for which figures are available on documents submitted to the U.S. Department of Labor. That’s up from $208,298 in 2007-08.

Salters is one of three officers approved by the union’s board of directors. Others are Vice President Steven Cook, who made $195,024, and secretary- treasurer Margaret McClellan, who was paid $147,770. Executive director Luigi Battaglieri, a hired administrator, earned $215,326. Efforts to interview Salters were unsuccessful.

[Sawdring]

Why don’t you just visit the site? A pretty good nugget of information. Perhaps you are too humble to go to it.

[tom h]

I'll act interested when any teachers union in America admits that they have been wrong as regards the cost to educate a student, teacher salaries, the proper role of a union, tenure, and the fact that teacher ranks are filled with the bottom 20% of all college graduates.

In the meantime, I'll keep watching the Weather Channel waiting for hell to freeze over.

[humblegunner]

Why don’t you just visit the site?

Visit a disease-ridden blog to get some info stolen from elsewhere?

Not bloody likely.

[NEMDF]

So they are trying to pay their accrued retirement benefit liabilities with current year dues? Or what?

[tcrlaf]

How much did they borrow to give to Democrats in the 2008-2010 election cycles??

[tcrlaf]

MEA has been a hotbed of Democrat Political Corruption for a while now.

Leadership making “Loans” to themselves to cover monies they stole, political donations and “loans” to candidates, etc.

Same thing happened in the Indiana Education Association.

[Buckeye Battle Cry]

I so want to see Michigan and Ohio become Right to Work Sstates in the next two years.

[Sawdring]

You should apply for a moderator position.

[humblegunner]

You should apply for a moderator position.

Nah. That would put restrictions on my awesome vigilante powers.

[Eva]

....and how would their pension fund stand if they had not invested all that money in recent elections, say for the past 4 years?

[Rome2000]

Marxist trade and pubic sector worker unions are a much bigger threat to national security than terrorists.

Effective immediately upon taking control of the WH, the GOP must move to destroy the unions that work to put marxists into positions of power in the Federal govt.

Zero tolerance for marxists in US Government.

By Executive Order, declare all states “Right to Work” states.

No more compulsory union dues in order to keep your job.

Give all union workers a raise, give them the option of keeping the money they were forced to pay in dues to the socialist crook union bosses.

Time to put the screws to these red sons of bitches, paybacks a bitch.