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Tuesday, January 11, 2011

Teacher pensions less generous than other public workers | TradingMarkets.com

Teacher pensions less generous than other public workers | TradingMarkets.com

Teacher pensions less generous than other public workers


Jan 09, 2011 (North County Times - McClatchy-Tribune Information Services via COMTEX) --

Educators in North County and throughout the state get lesser retirement deals than most city and public safety employees whose pricey pensionpackages have made headlines and increasingly drawn the ire of taxpayer advocates in the past few years.

Some former public school employees still draw big money in retirement -- four in North County pull in pensions of more than $200,000 per year -- but even those top earners don't get the benefits enjoyed by public safety workers and other city employees.

"Teachers have a more modest formula, and it has been fixed for a number of years now," said Jack Dean, vice president of the nonprofit California Foundation for Fiscal Responsibility, which pushes for pensionreform.

In addition to the lower scale, educators must also pay 8 percent of their annual salaries toward their retirement. In several cities, police and