Pension Brouhaha and Budgeting

Um...has anyone heard of "the Baby Boom?" That's the pesky generation of World War II offspring that have redefined everything they're touched. Now they are called the "Silver Tsunami" as they edge into retirement, wreaking havoc with another facet of society.

We can look more intently into how this mentioned article plays into the overall picture. Stop playing irresponsibly with teacher's pensions. I agree that this is an area of great expenditure. This is also an area where promises of the past, while they may need to be subtly tailored to match the realities of the future, need to be maintained without question. I am outraged by the companies of the past who have been raided for their fat retirement funds and then sold off as scraps. This is not the case here, but it is instructive to remember how many retirees have paid the price for CPAs and Esqs who turn beaucoup bucks into rubber checks.

William Hellman CPA's article (as quoted in a prior comment) is quite an eye-opener, especially when you get to the end paragraph.

But even if the worst-case scenario occurs -- school districts budget for higher contributions, but the Legislature does not act -- it shouldn't result in a major property tax increase, said Stephen MacNett, chief counsel to Senate Republicans.

''That issue itself shouldn't be the basis for a tax increase, because it's just simply continuing last year's rate,'' MacNett said. ''If that were to occur, that would mean we've dropped the ball.''

"We've" as Senate Republicans? Or "we've" as local school boards? We report; you decide.