Michigan Teachers Are Ready To Fight For Their Rights
Teachers in the state of Michigan are fighting for their pensions and due to a "lamb duck session" in the house, they may not win this fight.
"Michigan's largest teacher's union says it's prepared to fight legislation that would put new school employees into a 401(k) and prohibit them from accessing a retirement plan that more closely resembles a traditional pension.
The Michigan Education Association calls the proposal a "political attack on school employees."
Republican backers of the new plan claim that due to over time, the plan would reduce a $26.7 billion unfunded liability carried by the Michigan Public Schools Employee Retirement System.
The idea behind the proposal is to place public school teachers into the same defined plan as state employees. One large issue with this transition is that over 30 years it will cost the state $13.6 billion and in the short term will cost $4.5 billion.
The system was overhauled back in 2012 causing teachers to pay more towards their pensions, or face benefit cuts. Teachers took the hit, knocked off the dirt and got back to doing what they do best, teach. Now is just 4 short years they are being hit again.
With the changes being proposed the Teachers Union has some serious concerns...
"Unions also worry that offering teachers less generous benefits would make the profession less attractive to future applicants. Many teachers have already seen a reduction in benefits in recent years, as well as static pay, they say."
Rep Tim Kelly R-Saginaw Township, who sponsored the legislation, said...
"Most people don't have pensions anymore. I think pensions are a relic of the past," he said. Later, he added: "A pension or lack thereof shouldn't be why someone becomes a teacher."
Everyone has that "favorite" teacher, a friend or a family member who is a teacher. They do so much for our community and it would be shame if they are not taken care of.