Reply to Meals tax money - 4th grade strings - Immersion

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[quote=Anonymous][quote=Anonymous]It should be for all employees.  Why should vested actives get an additional "benefit" when inflation is under 3%??  They're just being greedy and taking money out of the Plan so those coming behind get reduced benefits.  The cola isn't designed as a benefit - it's a protection for the benefit to ensure it isn't eroded by inflation.  It's no wonder that the Herritys of the world go after the teachers and FCPS as inefficient and wasteful when this is the attitude that they hear from teachers - "give us everything and don't touch my benefits, or even the overly large inflation protection you gave me..."  It leaves a bad taste and those of us coming behind bear the consequences.[/quote]

First of all, the retirement is placed in a trust; both the employees and the school system funded the trust -- so the retirement costs for this years retirees are not line items in the budget.  What is in the budget is the cost for current employee contributions.

Second, the people drawing the retirement today are based on promises made 30 years ago.  These people were promised a retirement plan, contributed to it, and are benefiting from it as the money comes out of the trust funds.  The question on the retirement and the budget is on the contribution side.

I suppose you think the company I work for should be able to take the money back out of my 401K?  [/quote]

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