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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Brian Sullivan who wrote (139992)	6/29/2010 6:56:31 PM
From: Katelew	Read Replies (1) \| Respond to of 541958

However, almost all employees enrolled in the system stand to gain far more back in pension payouts than they ever contribute through paycheck deductions. Most people will receive back their lifetime contributions and then some within three years of retirement, according to a Times analysis. Here's the meat of this story. Paying these promised benefits crowds out the ability of the school to provide it's historical standards of education. And it surely must make it hard to pay well the younger crop of teachers coming in. The only way to solve it is what the school is doing...offering fewer academic programs. But this won't end well, because it will eventually cut enrollment as students go elsewhere.....which cuts revenues to the school......which make it harder to make all those original pension promises....and so on. A downward spiral .