I would not suggest that most of our school systems are as poor as that serving Chicago, but I am saying what I have said before --many school systems and other governmental bodies are going to have a rude awakening when they understand the condition of their retirement plans.
Some Louisiana parish school boards recognize this and have made changes in their retirement systems. No matter how generous retirement benefits have been promised, they can not be paid if the money does not exist. Mistakes were made years ago when it was popular for politicians to commit taxpayers to fund the future benefits.
The strike by Chicago school teachers, still on as I write this, is about more than salaries and retirement plans. Above all, they want to be protected from dismissal no matter how poor they are as teachers. Thus, they can keep the Chicago system to continue as one of the worst in the nation (and the nation as a whole is not doing well enough to brag about.)
Some Louisiana parish school boards recognize this and have made changes in their retirement systems. No matter how generous retirement benefits have been promised, they can not be paid if the money does not exist. Mistakes were made years ago when it was popular for politicians to commit taxpayers to fund the future benefits.
The strike by Chicago school teachers, still on as I write this, is about more than salaries and retirement plans. Above all, they want to be protected from dismissal no matter how poor they are as teachers. Thus, they can keep the Chicago system to continue as one of the worst in the nation (and the nation as a whole is not doing well enough to brag about.)
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