Wednesday, May 23, 2012

E.J. Needs Your Help

Come join East Jordan teachers This Thursday at Sportsman Park (that's the one just over the bridge on the left in E.J.) for an informational picket.  There is a feeling the board will attempt to impose a contract next month with a 10% pay cut retroactive back to the expoireation of the current contract.

This means teachers will have to pay back the district the reduction in wages!  How would you like that done to you!!

Come support our colleagues!  Stand up and be relevent! 

See you Thursday at 4:30pm.  Bring your picket signs:)

SB1040 on Fast Track in House

Call your representative now. House committee republicans do not seem to care about the financial harm they will do to retirees, current teachers, and future teachers.  When former teachers gave examples of how raising the copay from 10% to 20% would devastate their monthly income, Phil Stoddard of the Office of Retirement Services (ORS) reminded the committee that low income subsidies existed for those finding it hard to make ends meet. 

Really!?  The answer to pulling the plug on someones monthly pension is to say go get a bridge card?  Better start doing something or we will be working for poverty wages.

Current teachers can expect to cough up 4-7% of their annual salary just to keep the 1.5% multiplier.  But if you don't want to pay out that much, you can take a lower 1.25% multiplier.  Not sure what that translates into lost money at retirement, but I bet it is a significant chunk of change.  But wait, you have a third option!  You can be your own financial advisor and put your money into a 401K style retirement fund.  I seem to remember a little something call the Recession of '08.  Ask a retiree how they fared with their 401k after 2008.