Friday, June 09, 2017

Union Lessons

Hey, union-leave those teachers alone:
Under the current Michigan Public School Employees Retirement System, the employer contributes a 50 percent match of an employee’s contribution of up to 6 percent of total compensation. In other words, the state government’s contribution to the teacher is capped at just 3 percent.

The new plan would call on the employer to contribute 4 percent of a school employee’s salary into the 401(k). In addition, the teacher would be able to contribute, and the employer would match the first 3 percent of an employee’s contribution.

The tentative proposal would also allow for the closing of the hybrid offering in the future if it becomes underfunded.

“We have a tentative framework,” Synder told reporters Thursday. “We still need to continue to work out some of the things that provide, I think, better retirement for school employees.”

The changes from the old plan to the new plan really aren’t much to call home about, but that hasn’t quashed the frustration from the left.

Democrats as well as organized labor have criticized the tentative changes, claiming they will only worsen a teacher shortage. Instead, Democrats and union leaders want to see the state increase classroom spending and focus more on infrastructure, according to The Associated Press.
Heaven forbid they should want to actually help teachers...

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