Teachers retirement fund continues to fall behind (Hillsdale: school, calculator)

[syncmaster]

More bad news. Where's all this money gonna come from?

From the Star Ledger:

Even with 12 months of robust investment gains in 2006 and 2007, the balance in New Jersey's pension fund for teachers fell farther behind the amount needed to cover retirement benefits for the 200,000 teachers it covers, an actuary reported this morning.
...
As a result, the fund now contains only 76 percent of the amount needed to cover the benefits, a drop from the 78 percent it contained last year, according to Porter.

[CuCullin]

By ending the pension system? Sure, existing teachers would be grandfathered in, but atleast it would be progress to move to another system.

[retiredebtfree01]

The teacher retirement fund is good.The retirement scheme is nice for the teacher who is getting benefit for them.

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[stevemorse]

Originally Posted by CuCullin

By ending the pension system? Sure, existing teachers would be grandfathered in, but atleast it would be progress to move to another system.

your dreaming, that is a powerful union and they will never and I say never give that up. No one will bust this up, and thats why they vote for who ever will go with their way.

The funny thing is when I lived in Hillsdale when the school budget would not pass, you could sure bet they would drop the budget a few hundred thousand, no big deal amount and have a little DO OVER. Like little kids in school, do over!!! With a short announcement before the vote. DO OVER!!!

[stevemorse]

you know the goverment was capable of breaking up the mob than the teachers union. Now they are more dangerous than the mob!! Nobody , no goverenor wants to take them on!!! They extort more money too than the mob ever did.