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Defending school teacher retirement Julie Freeman of Calabasas writes that "Our state borrows money each year . . . to pay for teachers' retirement benefits we can afford to pay out." Let me set the record straight. Public school teachers, as well as school administrators, fund their own retirement plan, with an 8 percent contribution from all school-based income. That is a greater contribution than the 6.2 percent Social Security payroll tax. The state does not borrow money to pay teacher pensions. In fact, the governor raided the Teacher Retirement Pension Fund several years ago to try to balance the state budget. The teacher retirement system in California is in a far greater financial condition than either Social Security or Medicare. Ed Kaz Oak Park Kaz is a candidate for Oak Park Unified School District Board of Education |
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