Click to see

Click to see
Obama countdown

Wednesday, October 26, 2011

To save public pensions, support Issues 2 & 3

  UPDATE: Quinnipiac says it may be a blowout against 2. Virtually NO television or paper ads have been running supporting 2. Hundreds of thousands of union dollars have been blown into the state as unions see this as a monumental issue that will influence other states' referenda.  In fact, DC unions are at the basis of most of the money. From That Hero:
We Are Ohio isn’t a pro-union Ohio group getting a boost from outside the state: We Are Ohio isa front group for D.C. unions, regardless of how many National Education Association bigwigssend mailers from beyond Ohio’s borders. Note the humorous typo at PolitiFact, listing “We Are Ohio” as “None From Ohio” – it’s nearer the truth than the unions would have you believe.
  In fact, of all the ads running in Ohio almost $6 million comes from outside unions. Support ads for Issue 2 are virtually nil. 
  By now you've seen some of the hundreds and hundreds of paper and television ads, the signs in the yard suggesting you strike down Issue 2 as a voter.
  Issue 2, regardless what unionists say, will make the state of Ohio healthier by giving back to the people the ability to determine salaries.
  If you're thinking of voting against Issue 2 because you're a union member and you feel it will take power away from you in your job, consider this. Schools, cities and state employees have pretty much busted the bank. There's no more money.
  These public employees (you) make 43% more than the public sector; it's good to remember that...there's no more money. School districts won't pass more levies for salary increases; pension plans will go bust.
  If you're a taxpayer in the private sector, you'd better vote for Issue 2 or you'll be paying more for years, no matter how much money you make.
  If you're a worker in the public sector, you'd better vote Issue 2 if you expect to keep any benefits before the whole system goes belly up.
  Don't believe? Check out this pdf. Perrysburg Schools will be $20 million IN THE HOLE by 2015.
  From Buckeye Institute here:
STRS admits two points that Buckeye has been making for years. First, STRS retirees are living longer than expected and are collecting benefits for a longer period of time. With increases in life expectancy, it is entirely possible for STRS members to spend more years drawing retirement benefits than actually teaching in the classroom. For instance, a teacher who begins teaching at age 23 would be eligible to retire at 53 with full pension benefits that will increase three percent annually until death. With many individuals living well into their 80s and 90s, these long-living retirees would draw pension benefits for 30 years plus, with total benefits well exceeding $1 million. 
The second problem STRS admits is the growth in teacher retirements. As retirees enter the retirement rolls at an increasing rate, the total pool of pensioners grows and greater payouts must be made to cover the larger number of beneficiaries. The money is pouring out faster than it can be put back in. 
What’s left is exactly what we have now. A failing pension system, buried beneath nearly $40 billion of its own liabilities, admitting that without significant changes, it will eventually be unable to pay benefits. 

No comments:

Post a Comment