From CarlofBaltimore's site:
Out of 53 different teacher pension plans in the United States... Maryland ranks at the very bottom at #53, way behind Guam and Puerto Rico and even the poorest states in the union.
If major PENSION REFORM does NOT pass through the Maryland legislature, I, and most of the other Maryland public school teachers will face retirement after a minimum of 30 years of dedicated teaching, with only 38% of our last three years of salary... which for me will be less than $20,000 BEFORE TAXES!
Maryland is the 3rd wealthiest state in the union (per capita income).
Pennsylvania teachers retire with 72% of their salary and it's NOT TAXED!!! Virginia teachers are close behind. Pennsylvania and Virginia are attracting far more new teachers... and many Maryland teachers are leaving for neighboring states, or leaving teaching all together for work in the private sector.
The brave Maryland law enforcement officers and firemen get 71.5% after 28 years... and they deserve every bit of it!
Maryland legislators voted in a wonderful pension for themselves... 66% after only 20 years... and after 8 years they don't even have to contribute to it themselves! Keep in mind that the legislators work only 90 days a year... the rest of the year they work at their "regular jobs" as lawyers, real estate agents etc., and have the potential to earn far more money. Maryland teachers work 192 days a year at relatively low salaries compared to equally educated workers in the private sector.
Maryland State Teachers Association (MSTA) proposed reforms last year, but the legislators in Annapolis killed the bill in committee... it didn't even get to a vote! This is an ELECTION YEAR... so NOW is the time to push through serious PENSION REFORM . MSTA is lobbying for a dramatic but reasonable improvement in the pension system, which would include a substantial increase in teacher contribution... we are very willing to contribute substantially to our own pension if it means we can retire decently. The proposed bill is still being written by a committee in Annapolis, but the details have not yet been disclosed to the public. MSTA and the local teacher unions are working hard on PENSION REFORM... but we need YOU... the Maryland tax payer and voter to voice your opinion on this important issue.... and I will make it easy for you to do just that..."
My note: Why am I teaching in Maryland again? Oh yeah, no teaching jobs in Michigan.
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